obligee


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Obligee

The individual to whom a particular duty or obligation is owed.

The obligation might be to pay a debt or involve the performance or nonperformance of a particular act.

The term obligee is often used synonymously with creditor.

obligee

(ah-bluh-jee) n. the person or entity to whom an obligation is owed, like the one to be paid on a promissory note.

obligee

noun bestower, financier, grantor, lender, lessor, mortgage holder, mortgagee

obligee

a person in whose favour an OBLIGATION, contract, or bond is created; a creditor.
References in periodicals archive ?
Nothing herein contained shall prevent such claimant or any third person from vindicating his claim to the property in a separate action, or prevent the judgment obligee from claiming damages in the same or a separate action against a third-party claimant who filed a frivolous or plainly spurious claim.
Under the terms of a bid bond, the surety undertakes to pay a specified penalty to the obligee, if the principal fails to enter into the underlying contract.
After the expiration of the limitation period the right of the obligee still exists, but an action for the performance of this right is barred by the fact that the obligor invoked the expiration of the limitation period; instead, the obligee may assert a right of retention on the basis of a right extinguished by the limitation.
Notwithstanding the above, at the time of drafting the contract, as a means of increasing the likelihood of an undertaking to performing the same, the obligor may offer the obligee a promise to act in favour of the obligee in a separate document ancillary to the underlying contract (the "Declaration").
Obligor shall pay bridge-the-gap alimony to Obligee in the amount of $--per month, payable ( ) in accordance with Obligor's employer's payroll cycle, and in any event, at least once a month or ( ) other (explain)--beginning (date)--and continuing until: (date)-- (a period not to exceed two (2) years); death of either party; or remarriage of the Obligee, whichever occurs first.
For example, prior to July 1, if an obligor earned $11,000 per month in gross income, he or she would pay the same approximate amount ($1,990) whether the obligee earned $1,500 or $4,000 per month.
If the bond principal allegedly fails to perform its obligations under the applicable contract, a surety may receive notice of a performance bond claim from the obligee as either:
Here, the contracting party may have to take steps "which a prudent, determined and reasonable obligee (ie a person who has the benefit of the clause) acting in his own interests and desiring to achieve the end result would take".
The obligee has a choice between damages and specific performance and can choose the solution that is most advantageous.
Surety bonds transfer loss financing from the obligee to the surety.
If jurisdictional obstacles pose hardships across state lines, even further challenges come to light when a support order originates in a foreign country and an obligee seeks enforcement in a particular U.