Obligatory right definition
Obligatory right or principal claim, means Borrower (loanee) applies to Lender(loaner), after having approvals of the Lender, the financing which the Lender provide becomes RMB obligatory right( including principals, interests, default interests, compound interests, penalty, indemnification for loss and the fees of loaner realizes the obligatory right etc. ) under this agreement. Borrower and Lender (collectively called “Two parties”) agree and accept hereof, the Lender’s obligatory right which Borrower holds in this agreement consistent with Borrower’s according to this agreement.