Obligee Sample Clauses
The 'Obligee' clause defines the party in a contract who is entitled to receive the benefit of a promise or performance from another party, known as the obligor. In practical terms, this clause identifies the individual or entity that can demand fulfillment of contractual obligations, such as payment, delivery of goods, or completion of services. By clearly designating the obligee, the clause ensures there is no ambiguity regarding who holds the rights to enforce the contract, thereby promoting clarity and reducing the risk of disputes over entitlement.
Obligee. The Department shall be named as the obligee/beneficiary of the bond. Contractor's bond will provide that the insurer or bonding company shall be obliged to provide performance or payment remuneration directly to the Department.
Obligee. The Division shall be named as the beneficiary of the bond. The insurer or bonding company shall pay losses suffered by the State directly to the Division.
Obligee. The Department shall be named as the beneficiary of the bond. The insurer or bonding company shall pay losses suffered by the state of Florida directly to the Department.
Obligee. Royal Bank of Canada; UMB Bank; BMO ▇▇▇▇▇▇ Bank; Coöperatieve Rabobank U.A., New York Branch; ▇▇▇▇▇▇▇ ▇▇▇▇▇ Bank USA; MUFG Bank, ▇▇▇▇▇ Fargo Bank, National Association Collateral: Unsecured As of the date of the Note Purchase Agreement, the outstanding balance on the Revolving Line of Credit is $0 (thus, reducing the above total to $1,307,342,000).
Obligee. The Government shall be named as the beneficiary of the bond. The insurer or bonding company shall pay losses suffered by the State directly to the Government.
Obligee. Government entity or person requiring principal to be bonded.
Obligee. A Performance Bond shall name DISTRICT as obligee. All performance bonds, if any, purchased by Subcontractors shall name DISTRICT as a dual obligee with CONTRACTOR.
Obligee. The Department shall be named as the beneficiary of the bond. The insurer or bonding company shall pay losses suffered by the State directly to the Department.
Obligee. Guangzhou Yitongtianxia Software Development Co., Ltd. (affixed with company chop)
Obligee. The party a bond protects from loss; the beneficiary of the bond. For example the project owner on a construction site. A bond given to guarantee payment, usually of a contractor to sub-contractors and sup- pliers. This is frequently the only protection offered those supplying work or materials to a public job Bonds guaranteeing performance of the terms of a contract. These protect the owner of the contract from financial loss should the contractor refuse or be unable to fulfill the contract obligations.