The Obligor Sample Clauses
The Obligor clause identifies the party in a contract who is responsible for fulfilling specific obligations or duties outlined in the agreement. In practice, this clause clarifies which individual or entity must perform certain actions, such as making payments, delivering goods, or providing services. By clearly designating the obligor, the clause ensures accountability and helps prevent disputes over who is required to meet contractual commitments.
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The Obligor. The Obligor must be a resident in an Eligible Country, and may not be (i) an Affiliate of the Parent or the Relevant Seller or (ii) a government or a government subdivision or government agency;
The Obligor. (a) has no rights under, or by reference to, sections 114(1)(a), 133 and 134 of the PPSA; and
(b) waives its rights:
(i) to receive a statement of account under section 116 of the PPSA;
(ii) to receive notice of any proposal of the Lender to retain collateral under section 120(2) of the PPSA;
(iii) to object to any proposal of the Lender to retain collateral under section 121 of the PPSA;
(iv) not to have goods damaged if the Lender removes an accession under section 125 of the PPSA;
(v) to receive notice of the removal of an accession under section 129 of the PPSA; and
(vi) to apply to the Court for an order concerning the removal of an accession under section 131 of the PPSA.
The Obligor. (i) is a Company Obligor or has entered into a franchise agreement with respect to the Approved Concept and is in compliance with all material terms and conditions of such franchise agreement, or (ii) if the Obligor is not a Company Obligor and is seeking funding with respect to construction of all or part of a restaurant and such restaurant remains uncompleted at the time such Franchise Receivable is added to the Pledged Receivables hereunder, the Obligor shall have executed a franchise agreement with an Approved Concept within seven (7) months after the time such Franchise Receivable is added to the Pledged Receivables hereunder;