US Obligation Sample Clauses
The "US Obligation" clause defines the specific duties or responsibilities that a party, typically based in the United States, must fulfill under the agreement. This may include compliance with US laws and regulations, payment of taxes, or performance of certain actions within US jurisdiction. For example, a US-based supplier might be required to ensure that all products shipped comply with US export controls. The core function of this clause is to clearly allocate and specify the obligations that are unique to the US party, thereby ensuring legal compliance and reducing ambiguity regarding each party’s responsibilities.
US Obligation. The US Revolver Loans, US LC Obligations and other US Obligations constitute one general obligation of US Borrowers and are secured by Agent’s Lien on all US Collateral; provided, that Agent and each US Lender shall be deemed to be a creditor of, and the holder of a separate claim against, each Borrower to the extent of any Obligations jointly or severally owed by such Borrower.