Obligor definition: Copy, customize, and use instantly
Introduction
The term "Obligor" refers to a party who is bound by an obligation in a contract or agreement, typically the individual or entity that is required to perform or fulfill specific duties or payments under the terms of the agreement. The obligor is responsible for ensuring that their obligations are met, whether financial, legal, or otherwise.
Below are various examples of how "Obligor" can be defined in different contexts. Copy the one that fits your needs, customize it, and use it in your contract.
Definition of "Obligor" as the party with financial obligations
This definition ties "Obligor" to the party responsible for financial commitments.
"Obligor" means the individual or entity responsible for making payments or fulfilling financial obligations under the terms of the agreement, including but not limited to loans, debts, or other financial commitments.
Definition of "Obligor" as the borrower in a loan agreement
This definition connects "Obligor" to the borrower in a financial context.
"Obligor" refers to the party that has taken on the responsibility of repaying a loan, including any person or entity who has entered into a loan agreement and is obligated to make payments to the lender.
Definition of "Obligor" as a party bound by a contract
This definition links "Obligor" to the party bound by contractual duties.
"Obligor" means any party to this agreement who is legally required to perform certain actions or fulfill obligations, whether it be payment, delivery of goods, or services, in accordance with the terms of this contract.
Definition of "Obligor" as the debtor in a debt agreement
This definition applies "Obligor" to a party in a debt relationship.
"Obligor" refers to the individual or entity that owes money or other obligations to another party in a debt relationship, including those who are responsible for repayment under the terms of a debt agreement.
Definition of "Obligor" as a principal party in a surety agreement
This definition ties "Obligor" to the primary party in a surety bond agreement.
"Obligor" means the party primarily responsible for the obligation under a surety agreement, including the person or entity whose debt, performance, or actions are being guaranteed by a surety.
Definition of "Obligor" as the party obligated to provide goods or services
This definition connects "Obligor" to a party with service or delivery obligations.
"Obligor" refers to the party responsible for delivering goods, services, or any other specified performance under the terms of this agreement, including the provision of materials, labor, or other necessary elements.
Definition of "Obligor" as a party responsible for tax payment
This definition links "Obligor" to a party's responsibility for paying taxes.
"Obligor" means the individual or entity legally obligated to pay taxes, including income, sales, or other forms of taxation, in accordance with applicable laws and regulations.
Definition of "Obligor" as the party liable for performance
This definition applies "Obligor" to a party obligated to perform contractual duties.
"Obligor" refers to the individual or entity responsible for fulfilling the terms of the contract, including any required actions, performance milestones, or deliverables set forth in the agreement.
Definition of "Obligor" as a party responsible for settlement payments
This definition ties "Obligor" to those required to make settlement payments.
"Obligor" means the party responsible for making a settlement payment, including any individual or entity required to pay compensation or damages as part of a negotiated settlement or legal agreement.
Definition of "Obligor" as a party with a duty to indemnify
This definition connects "Obligor" to indemnification duties.
"Obligor" refers to the party responsible for indemnifying or compensating another party for losses, damages, or expenses incurred as a result of specified events or actions under the terms of this agreement.
Definition of "Obligor" as a responsible party in a warranty agreement
This definition applies "Obligor" to a party responsible for warranty obligations.
"Obligor" means the individual or entity responsible for honoring the warranty or guarantee provided under the terms of the agreement, ensuring that products or services meet specified standards.
Definition of "Obligor" as a guarantor in a financial agreement
This definition ties "Obligor" to a party acting as a guarantor.
"Obligor" refers to the party acting as a guarantor in a financial agreement, assuming responsibility for the performance or payment of a debt in the event that the primary debtor defaults.
Definition of "Obligor" as a party responsible for funding
This definition links "Obligor" to funding responsibilities in a contract.
"Obligor" means the party responsible for providing or securing the necessary funding, whether as a loan, investment, or other financial commitment, under the terms of this agreement.
Definition of "Obligor" as a party responsible for making royalty payments
This definition connects "Obligor" to royalty payment duties.
"Obligor" refers to the party required to make royalty payments or other periodic payments under a licensing, franchise, or intellectual property agreement.
Definition of "Obligor" as the party responsible for delivering intellectual property
This definition applies "Obligor" to intellectual property obligations.
"Obligor" means the party responsible for the delivery, licensing, or transfer of intellectual property rights or assets, including patents, trademarks, or copyrights, as outlined in the agreement.
Definition of "Obligor" as a party liable for contract penalties
This definition links "Obligor" to penalties for non-compliance.
"Obligor" refers to the party liable for paying any penalties or damages resulting from a failure to perform obligations or meet deadlines set forth in the contract.
Definition of "Obligor" as a party responsible for insurance premiums
This definition ties "Obligor" to the payment of insurance premiums.
"Obligor" means the party responsible for paying insurance premiums or fees to maintain coverage under an insurance policy, as required by the terms of the policy or agreement.
Definition of "Obligor" as a party with environmental responsibilities
This definition connects "Obligor" to environmental compliance obligations.
"Obligor" refers to the party responsible for ensuring compliance with environmental laws and regulations, including any required actions to mitigate environmental impacts or manage waste disposal.
Definition of "Obligor" as a party responsible for maintenance obligations
This definition links "Obligor" to ongoing maintenance duties.
"Obligor" means the party responsible for carrying out maintenance, repairs, or upkeep of property, equipment, or facilities, as stipulated in the agreement.
Definition of "Obligor" as a party bound to perform under a construction contract
This definition applies "Obligor" to construction project responsibilities.
"Obligor" refers to the party obligated to perform construction work, including the completion of projects, maintenance of construction sites, and compliance with building standards under a construction contract.
Definition of "Obligor" as a party in an insurance contract
This definition links "Obligor" to responsibilities in an insurance contract.
"Obligor" refers to the insurance company or party responsible for paying out claims or performing the contractual duties under an insurance policy.
Definition of "Obligor" as a party bound by a licensing agreement
This definition connects "Obligor" to a licensing arrangement.
"Obligor" means the party responsible for fulfilling the terms of a licensing agreement, including the payment of royalties or adherence to usage restrictions specified in the agreement.
Definition of "Obligor" as a party in a loan guarantee
This definition applies "Obligor" to a loan guarantee situation.
"Obligor" refers to the individual or entity responsible for repaying the loan in the event of default by the primary borrower, as outlined in a loan guarantee agreement.
Definition of "Obligor" as a party responsible for compensating for breach
This definition ties "Obligor" to breach compensation.
"Obligor" refers to the party required to compensate the other party for any losses, damages, or penalties arising from a breach of contract or non-performance under the terms of the agreement.
Definition of "Obligor" as a party required to repay debts
This definition connects "Obligor" to debt repayment.
"Obligor" means the individual or entity who owes and is responsible for repaying a debt, whether under a loan, promissory note, or other financial arrangement.
Definition of "Obligor" as a party in a franchise agreement
This definition links "Obligor" to franchise obligations.
"Obligor" refers to the franchisee who is responsible for meeting the requirements of the franchise agreement, including paying franchise fees and complying with operational guidelines.
Definition of "Obligor" as a party bound to a non-disclosure agreement
This definition applies "Obligor" to confidentiality obligations.
"Obligor" means the party bound by the terms of a non-disclosure agreement (NDA), obligated to maintain confidentiality and protect sensitive information shared during the course of business.
Definition of "Obligor" as a party responsible for service obligations
This definition connects "Obligor" to service delivery obligations.
"Obligor" refers to the party responsible for performing certain services, including maintenance, support, or operational services, as agreed in the service contract.
Definition of "Obligor" as a party responsible for returning property
This definition ties "Obligor" to the return of property.
"Obligor" refers to the party required to return property, including leased or borrowed goods, to the rightful owner or entity, in accordance with the terms of the agreement.
Definition of "Obligor" as a party responsible for rental payments
This definition connects "Obligor" to rental payment duties.
"Obligor" means the individual or entity responsible for paying rental fees under a lease agreement, including rent, utilities, and any other associated charges.
Definition of "Obligor" as a party in a securities agreement
This definition links "Obligor" to securities obligations.
"Obligor" refers to the party responsible for fulfilling obligations related to the issuance, sale, or repayment of securities, including bonds or notes.
Definition of "Obligor" as a party bound by an employment contract
This definition applies "Obligor" to employment-related obligations.
"Obligor" means the employer or employee who is obligated to fulfill the duties, terms, and conditions outlined in the employment contract, including job performance, salary, and other employee benefits.
Definition of "Obligor" as a party responsible for joint venture contributions
This definition ties "Obligor" to joint venture obligations.
"Obligor" refers to the individual or entity responsible for contributing resources, funds, or services to a joint venture, as specified in the joint venture agreement.
Definition of "Obligor" as a party bound by a government contract
This definition connects "Obligor" to governmental contract obligations.
"Obligor" means the party responsible for fulfilling the terms and conditions of a government contract, including the delivery of goods, services, or other performance standards.
This article contains general legal information and does not contain legal advice. Cobrief is not a law firm or a substitute for an attorney or law firm. The law is complex and changes often. For legal advice, please ask a lawyer.