Settlement Debt Sample Clauses
The Settlement Debt clause defines the obligations of a party to pay a specified amount, often arising from a settlement agreement between disputing parties. Typically, this clause outlines the total debt to be paid, the payment schedule, and any conditions or triggers for payment, such as the resolution of a dispute or the fulfillment of certain terms. Its core practical function is to formalize the financial terms of a settlement, ensuring both parties have clear expectations regarding the amount owed and the timeline for repayment, thereby reducing the risk of future disputes over payment.
Settlement Debt. The Creditor agrees as part of this Agreement they shall be accepting the last payment for the satisfaction of the Present Debt, hereinafter known as the “Settlement Debt”. This Settlement Debt shall be in the amount of $____________________. Acceptance of the Settlement Debt shall immediately discharge all monies owed by the Debtor to the Creditor.
Settlement Debt. The amount of any Indebtedness shall be determined without giving effect to any ▇▇▇▇-to-market increase or decrease resulting from the purchase accounting impact of corporate or portfolio acquisitions or any ▇▇▇▇-to-market remeasurement of the amount of any Indebtedness denominated in a Foreign Currency. Indebtedness shall not include obligations under any assessment, performance, bid or surety bond or any similar bonding obligation.