co-obligor

See: comaker

CO-OBLIGOR, contracts. One who is bound together with one or more others to fulfill an obligation. As to what will constitute a joint obligation, see 5 Bin. 199; Windham's Case, 5 Co. 7; 2 Ev. Poth. 63; Ham. Parties, 29, 20, 24; 1 Saund. 155; Saunders, Arguendo and note 2; 5 Co. 18 b, 19 a, Slingsly's Case. He may be jointly, or severally bound.
     2. When obligors are jointly and not severally bound to pay a joint debt, they must be sued jointly during their joint lives, and after the death of some of them, the survivors alone can be sued; each is bound to pay the whole debt, having recourse to the others for contribution. See 1 Saund. 291, n. 4; Hardress, 198; 2 Ev. Poth. 63, 64, 66. Yet an infant co-obligor need not be joined, for his infancy may be replied to a plea of non-joinder in abatement. 3 Esp. 76; 5 Esp. 47; also, see 5 Bac. Abr. 163-4; 2 Vern. 99; 2 Moss. Rep. 577; 1 Saund. 291 b, n. 2; 6 Serg. & R. 265, 266; 1 Caines' Cases in Err. 122.
     3. When co-obligors are severally bound, each may be sued separately; and in case of the death of any one of them, his executors or administrators may be sued.
     4. On payment of the obligation by any one of them, when it was for a joint debt, the payer is entitled to contribution from the other co- obligors.

References in periodicals archive ?
co-obligor on the Notes, will be holding a conference call on Thursday, August 18, 2011 at 10:00 am Pacific time to discuss the unaudited results for the quarter ended July 2, 2011.
ICFunding), which is a co-issuer and co-obligor for the first mortgage bond issue on a joint and several basis.
Prior to the closing of the exchange offer, Halliburton executed a supplemental indenture to the indenture governing the DII Industries debentures whereby it assumed as a co-obligor with DII Industries all obligations under the indenture.
65 percent Senior Notes Due 2020 ("Senior Notes"), which were issued by Corporation, with the Company as co-obligor, were priced at 99.
The APR for the credit line will depend upon the credit profile of the business and the co-obligor.
The Holding Company will be a co-obligor (or guarantor, as appropriate) regarding the payment of principal and interest on the Company's outstanding debt securities.
In addition, pursuant to a supplemental indenture, Mpower Holding became a co-obligor, along with Mpower Communications, on Mpower Communications' 13% Senior Secured Notes due 2004.
In connection with the merger, Allstate became a co-obligor and guarantor with respect to the obligations of American Heritage Life under the FELINE PRIDES.
0 million on its capital stock and b) to allow for payment of certain dividends on its capital stock after an initial public offering; and to allow for necessary amendments to be made to the Indenture in the case that a wholly owned subsidiary of Dynacare is added as a co-obligor on the Notes and the Additional Securities.
The senior notes were issued through the company's wholly owned subsidiary, Arch Western Finance, LLC, with Arch of Wyoming, LLC, also a wholly owned subsidiary of the company, being a co-obligor.
co-obligor on the Notes, will be holding a conference call on Thursday, May 17, 2012 at 10:00 am Pacific time to discuss the unaudited results for the quarter ended March 31, 2012.
In addition, the proposed amendments with respect to the notes issued under the 2002 indenture will permit financial and other reports of Cingular Wireless LLC (which will become a guarantor or co-obligor of the Senior Notes upon the consummation of the acquisition) or any other guarantor or co-obligor of the Senior Notes to be provided to holders of the notes issued under the 2002 indenture in lieu of financial and other reports of AT&T Wireless (or any successor to AT&T Wireless) as would be permitted by the rules of the Securities and Exchange Commission.