primary obligor definition
primary obligor shall have the meaning assigned to such term in the definition of the term “Guarantee.”
primary obligor has the meaning assigned to such term in the definition of “Guarantee”.
primary obligor shall have the meaning provided such term in the definition of Contingent Obligations.
Examples of primary obligor in a sentence
The amount of any Losses for which an indemnifying Party is responsible under this ARTICLE VII shall be reduced by the amounts actually recovered by an indemnified Party from a Primary Obligor, net of premium increases, deductibles and other costs reasonably incurred by the indemnified Party in connection with such recovery, including investigation of the underlying claim and of collection (such amount, a "Net Recovery").
If an indemnified Party recovers from a Primary Obligor after being indemnified by an indemnifying Party, the indemnified Party shall refund the Net Recovery to the indemnifying Party to the extent of such prior indemnification.
More Definitions of primary obligor
primary obligor has the meaning provided in the definition of “Guaranty Obligations.”
primary obligor. “Contingent Obligations” definition
primary obligor shall have the meaning given to such term in the definition of “Contingent Obligation” set forth in this Section 1.1.
primary obligor has the meaning set forth in the definition of “Guarantee”.
primary obligor shall have the meaning given such term in the definition of the term Guarantee.
primary obligor means, with respect to any Portfolio Investment, the principal Obligor directly obligated to repay all obligations owing under such Portfolio Investment, including joint and several liability for such obligation, if more than one Obligor exists; provided, however, “Primary Obligor” does not include any Person who acts solely as a guarantor or surety with respect to such Portfolio Investment.
primary obligor shall have the meaning provided in the definition of the term Contingent Obligations.