Hussain al-Qemzi, GCEO, Noor Investment Group, and CEO Noor Bank, said, "Islamic financing is asset-backed, which delivers greater security to the obligor
The previous guidelines failed to incorporate in a substantive way the obligee's income in determining the amount to be paid by the obligor
In principle, an obligation to use best endeavours contemplates that the obligor
will be required to incur some costs in discharging that obligation, but the extent to which it will be expected to act against its financial interests is a question of fact to be determined in each case.
420 include paying the loan off in full, return of the security on the loan, closing of the loan after the collateral is sold and the obligor
defaults, and writing the loan off.
Paragraph 6 must be completed to show what percentage, if any, of a one time payment made to the obligor
should be applied to any arrearage in support that may be due to the obligee.
Now we sit down with obligor
parents, mostly fathers, and see if we can't work out a happy solution to all the problems involved.
The Associated Obligor
Link service provides a 360-degree view of the critical link between securities and obligors
so that users can better manage credit risk and exposure and make more informed investment decisions.
1) The borrower is unable to service the existing loan according to its terms and is a resident of a foreign country in which there is a generalized inability of public and private sector obligors
to meet their external debt obligations on a timely basis because of a lack of, or restraints on the availability of, needed foreign exchange in the country; and
must pay tax on any income generated by the property.
Furthermore, Fitch will continue to monitor the series as the transaction amortizes to assess the impact of increasing obligor
A nonpaying obligor
can lose his or her driving privileges or professional license, have his tax refund intercepted and lottery winnings dunned, and suffer other serious consequences.
Then, the defendant (or its liability insurer) transfers that obligation to its substituted obligor
, who thereafter remains liable on the payment obligations.