Examples of Secondary obligor in a sentence

Secondary obligor is defined as a person who is secondarily liable for payment of a secured obligation, e.g., a guarantor.
Secondary obligor," with respect to an instrument, means (a) an indorser or an accommodation party, (b) a drawer having the obligation described in Section 3-414(d), or (c) any other party to the instrument that has recourse against another party to the instrument pursuant to Section 3-116(b).
This approach establishes the taxonomy as the “single source of truth” or what we call the “Single Data Model”.
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More Definitions of Secondary obligor

Secondary obligor means an obligor to the extent that: (A) The obligor's obligation is secondary; or

Secondary obligor with respect to an instrument means an indorser, a drawer, or an accommodation party that has a right of recourse against a party obligated to pay the instrument.

Secondary obligor means an obligor to the extent that either of the following conditions are satisfied:

Secondary obligor means an obligor any portion of whose obligation is secondary.

Secondary obligor means an obligor to the 21 extent that: 22

Secondary obligor means each entity identified on Schedule I-(SO), as well as, subject to the final sentence of this definition, any other entity, other than a Primary Obligor, any Equity Interest (other than Equity Interests constituting Incidental Equity Interests) of or in which is owned by Borrower, any Primary Obligor or any other Secondary Obligor. Notwithstanding the foregoing, no Tier IV Company or Tier V Company or any Harbor Debtor shall constitute a Secondary Obligor.

Secondary obligor means anobligor to the extent that: