obligor

Definition

An individual or company that owes debt to another individual or company (the creditor), as a result of borrowing or issuing bonds. also called debtor.

Use obligor in a sentence

I was the obligor which meant that I owed money to the other person and had to pay it, or be thrown out.

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We were forced to seek legal remedy against the obligor for an outstanding accounts payable balance they had incurred.

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The City of New Brook, as obligor to The Foundation for Civic and Economic Development, had to provide a monthly report of how it is using the bonds lent to it by the Foundation.

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obligee joint bond