Debt Agreement
/ˈdɛt əˌgriːmənt/
Definitions
- (n.) A legally binding contract between a debtor and creditor outlining the terms for repayment of debt.
The parties entered into a debt agreement to restructure the borrower's outstanding loans.
- (n.) An arrangement approved by a court under insolvency law allowing debtors to compromise with creditors to avoid bankruptcy.
The company filed a debt agreement to settle its debts outside of bankruptcy proceedings.
Forms
- debt agreement
- debt agreements
Related terms
See also
Commentary
Debt agreements often vary by jurisdiction and may refer either to general contract terms for debt or to formal insolvency arrangements; clarity depends on context.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.