(k) Indebtedness shall, for purposes of this Subpart, mean and include all obligations of such person which would, in accordance with applicable accounting principles, be classified upon a balance sheet of such person as liabilities of such person, and in any event shall include:

1. (1) all indebtedness guaranteed, directly or indirectly, in any manner by such person or endorsed (otherwise than for collection or deposit in the ordinary course of business) or discounted with recourse;

2. (2) all indebtedness in effect guaranteed, directly or indirectly, by such person through an agreement, contingent or otherwise:

   1. (i) to purchase such indebtedness or to advance or supply funds for the payment or purchase of such indebtedness; or
   2. (ii) to purchase, sell or lease (as lessee or lessor) property, products, materials or supplies; or to purchase or sell transportation or services, primarily for the purpose of enabling the debtor to make payment of such indebtedness or to assure the owner of such indebtedness against loss, regardless of the delivery or nondelivery for any reason of the property, products, materials or supplies, or the furnishing or nonfurnishing for any reason of the transportation or services; or
   3. (iii) to make any loan, advance, capital contribution or other investment in the debtor for the purpose of assuring a minimum equity, asset base, working capital or other balance sheet condition for any date, or to provide funds for the payment of any liability, dividend or stock liquidation payment, or otherwise to supply funds to or in any manner invest in the debtor;
3. (3) indebtedness of any joint venture, partnership or other person for which such person is liable;
4. (4) all indebtedness of such person created or arising under any conditional sale agreement or other title retention agreement, even though the rights and remedies of the seller or lender or lessor under such agreement or lease in the event of default are limited to repossession or sale of property; and

5. (5) all indebtedness secured by any mortgage, lien, pledge, charge, security interest or other encumbrance upon or in property owned by such person, even though such person has not assumed or become liable for the payment of such indebtedness.

   For the purpose of computing the indebtedness of any person, there shall be excluded any particular indebtedness if, upon or prior to the maturity thereof, there shall have been irrevocably deposited with the proper depository in trust the necessary funds (or evidences of such indebtedness, or other securities, if permitted by the instrument creating such indebtedness) for the payment, redemption or satisfaction of such indebtedness; and thereafter such funds, evidences of indebtedness and securities so deposited shall not be included in any computation of the assets of such person.

(l) The term indebtedness for money borrowed of any person shall, for purposes of the foregoing, mean and include:

1. (1) all indebtedness of such person, current or funded, secured or unsecured, incurred in connection with borrowings (including the sale of debt securities);
2. (2) all indebtedness of such person issued, incurred or assumed in respect of the purchase price of property, except for trade accounts payable incurred in the ordinary course of business; and
3. (3) any guarantee or other obligation specified in paragraph (k)(1) or (2) of this section in respect of indebtedness of any other person of any of the types specified in paragraphs (1) and (2) of this subdivision.