Antecedent Debt Clause Samples

The Antecedent Debt clause defines how obligations or debts that existed prior to the execution of an agreement are treated under the contract. Typically, this clause clarifies whether such pre-existing debts are acknowledged, discharged, or remain enforceable after the new agreement is in place. For example, it may specify that any outstanding payments owed before the contract date are either included in the new arrangement or excluded from its terms. The core function of this clause is to prevent disputes by clearly addressing the status of prior debts, ensuring both parties understand their ongoing financial responsibilities.
Antecedent Debt. The sale of Receivables by such Seller to the Purchaser pursuant to this Agreement, and all other transactions between such Seller and the Purchaser, have been and will be made in good faith and without intent to hinder, delay or defraud creditors of such Seller or any other member of the T-Mobile Group (as such term is defined in Annex C of the Receivables Purchase Agreement).
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Antecedent Debt. The sale of Designated SunCom Receivables by the Joining Seller to the Purchaser, and all other transactions between the Joining Seller and the Purchaser, have been and will be made in good faith and without intent to hinder, delay or defraud creditors of the Joining Seller or any other member of the T-Mobile Group.
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Antecedent Debt. The sale of Receivables by T-Mobile PCS Holdings to the Funding Purchaser pursuant to this Agreement, and all other transactions between T-Mobile PCS Holdings and the Funding Purchaser, have been and will be made in good faith and without intent to hinder, delay or defraud creditors of T-Mobile PCS Holdings or any other member of the T-Mobile Group.
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Related to Antecedent Debt

  • Permitted Indebtedness Neither the Company nor any Subsidiary ---------------------- will create, incur or assume any Indebtedness other than: (a) Indebtedness represented by or incurred under the Notes and the Purchase Agreement and the Revolving Credit Facility; (b) Indebtedness incurred to prepay or repay in full the remaining outstanding principal amount of Notes and all other amounts due thereon or under the Purchase Agreement; (c) Indebtedness existing on the Closing Date and identified on the Disclosure Schedule; (d) Indebtedness incurred solely as an extension, renewal, refinancing or replacement of Indebtedness of the Company or of its Subsidiaries under clause (iii) above (but excluding any Indebtedness under clause (iii) above to the extent such Indebtedness is repaid with the proceeds from the sale of the Notes and Warrants), provided that any such extension, renewal or refinancing (A) shall be on terms which on balance are substantially as favorable to the Company (or the relevant Subsidiary) as the terms of such existing Indebtedness (other than changes in the amount of the interest rate and other than the imposition of additional Liens permitted by Section 9.10(f) hereof) and (B) shall not be in a greater principal amount or have a shorter average life or earlier maturity than such existing Indebtedness; (e) Indebtedness in an aggregate principal amount outstanding not exceeding $20,000,000 incurred solely to finance the purchase price of additional towers and related facilities and equipment; (f) Interest Rate Protection Agreements required by the Revolving Credit Facility or incurred for hedging purposes in the ordinary course of business; and (g) Additional Indebtedness in an amount which , together with sale and leaseback obligations permitted under Section 9.11, does not exceed $2,000,000.

  • Secured Indebtedness The Borrower shall not permit the ratio of (i) Secured Indebtedness of the Borrower and its Subsidiaries to (ii) Total Asset Value to be greater than 0.40 to 1.00 at any time.

  • Borrowed Money The amount that will be lent to the Borrower by the Lender should be documented in the Second Section as requested by the line following the dollar (“$”) symbol. This dollar amount must represent the exact amount of money that the Lender shall deliver to the Borrower and should not include any interest charges. III.

  • Indebtedness Create, incur, assume, or be liable for any Indebtedness, or permit any Subsidiary to do so, other than Permitted Indebtedness.

  • Indebtedness for Borrowed Money Except for the Obligations and except as set forth in Schedule 4.1.13 attached hereto and made a part hereof, the Borrowers have no Indebtedness for Borrowed Money. The Lender has received photocopies of all promissory notes evidencing any Indebtedness for Borrowed Money set forth in Schedule 4.1.13, together with any and all subordination agreements, other agreements, documents, or instruments securing, evidencing, guarantying or otherwise executed and delivered in connection therewith.