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).
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.
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.