Debt Disclosure Clause Samples
A Debt Disclosure clause requires one party, typically the borrower, to fully reveal all existing debts and financial obligations to the other party, often a lender or investor. This disclosure usually includes details such as outstanding loan amounts, credit lines, guarantees, and any contingent liabilities. By mandating transparency about current indebtedness, the clause helps the receiving party accurately assess financial risk and make informed decisions, thereby reducing the likelihood of hidden liabilities affecting the agreement.
POPULAR SAMPLE Copied 1 times
Debt Disclosure. As of the Closing Date, except as set forth on Disclosure Schedule (3.4(c)), no Sotheby Entity is liable on any "Secured Debt" or "Attributable Debt" (in each case as defined in the Senior Note Indenture) other than the Obligations.
Debt Disclosure. As of the Closing Date, after giving effect to the Refinancing, no Sotheby Entity is liable on any “Credit Facilities” (as defined in the Senior Note Indenture) other than pursuant to this Agreement.
Debt Disclosure. The Company must fully and accurately disclose its existing debts and contingent liabilities at the time of signing this Agreement. During the term of the Notes, the Company must promptly disclose any new debts and contingent liabilities, including borrowings, guarantees, and lawsuits (completion of quarterly reports will fulfill this requirement).