separate debt definition

separate debt means a debt for which a member of a partnership is liable, other than a joint debt;
separate debt means a debt, including a personal debt, for which a partner of a firm is liable, other than a partnership debt.

Related to separate debt

  • Subordinate Debt means indebtedness secured hereby or by any Supplemental Indenture which is by its terms expressly subordinate and inferior hereto both in lien and right of payment.

  • Long-Term Indebtedness means any Indebtedness that, in accordance with GAAP, constitutes (or, when incurred, constituted) a long-term liability.

  • Excluded Indebtedness means all Indebtedness not incurred in violation of Section 6.01.

  • Assumed Debt has the meaning set forth in Section 2.2.

  • Aggregate Debt means the sum of the following as of the date of determination: