Eligible Obligee definition

Eligible Obligee means entities located in the United States, Puerto Rico or other United States possessions that are primarily responsible for transportation infrastructure systems and services, and transactions related to the operation of such systems and services.
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Examples of Eligible Obligee in a sentence

  • A TCC Obligation in the amount of $____________ has been created by execution of a Surety Bond Agreement among _____________, as Issuer, TransCore and TCC and the related issuance of an Eligible Bond of like amount to __________________, as Eligible Obligee.

  • The TCC Payment Certificate shall reference the Surety Bond Agreement previously executed by TCC related to the Eligible Bond under which payment was made by the Issuer to an Eligible Obligee and state that TCC, as first loss indemnitor under such Surety Bond Agreement, is obligated to make a payment to the Issuer referenced in such Surety Bond Agreement and shall specify the amount of such payment.

  • Upon payment by an Issuer to an Eligible Obligee in connection with an Eligible Bond, TransCore shall make a demand for a TCC Payment by delivery to TCC of a written TCC Payment Certificate signed by an Authorized Officer of TransCore in the form attached hereto as Exhibit D.