An amount owed to a person or organization for funds borrowed. Debt can be represented by a loan note, bond, mortgage or other form stating repayment terms and, if applicable, interest requirements. These different forms all imply intent to pay back an amount owed by a specific date, which is set forth in the repayment terms. Use debt in a sentence.
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Updated Jan 10, 2015 at 11:05p ET. The Boston Celtics ' goal this season has been clear: trade players to gain as many future draft picks and assets as possible. They traded Brandan Wright for one first-round pick on Friday, and reportedly have agree to trade Jeff Green for another. The Celtics own multiple first-round draft picks in each of the next four drafts. But with varying levels of protection on each pick, it can be difficult to figure out exactly what Boston's future assets look like.