Direct Obligation definition

Direct Obligation means the proportionate share of Outstanding Parity Obligations attributable to and the responsibility of each Participant in the Financing System.
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Direct Obligation means the proportionate share of Outstanding Parity Debt attributable to and the responsibility of each respective Financing System Member.
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Direct Obligation means the proportionate share of outstanding Parity Obligations attributable to and the responsibility of each respective Participant.
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Examples of Direct Obligation in a sentence

  • Consequently, the Seller shall have no obligation to indemnify or defend the Purchaser or Titan with respect to any matter, right or claim that is a HudBay Direct Obligation.

  • Direct Obligation; Full Faith and Credit.......................................40 SECTION 3.38.


More Definitions of Direct Obligation

Direct Obligation means, with respect to any Obligor, any Credit Obligation of such Obligor in the capacity as the borrower of a loan or the issuer of a note, bond or similar evidence of debt, as account party with respect to a Letter of Credit, as the counterparty under a Hedging Agreement or otherwise as the primary obligor (and not a guarantor or third-party pledgor) on such Credit Obligation.
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Related to Direct Obligation

  • Net Obligation means the amount owed to PJMSettlement and PJM for purchases from the PJM Markets, Transmission Service, (under Tariff, Parts II and III , and other services pursuant to the Agreements, after applying a deduction for amounts owed to a Participant by PJMSettlement as it pertains to monthly market activity and services. Should other markets be formed such that Participants may incur future Obligations in those markets, then the aggregate amount of those Obligations will also be added to the Net Obligation.

  • Bank Product Obligations means all obligations, liabilities, contingent reimbursement obligations, fees, and expenses owing by a Company to Agent or any Lender (or an affiliate of a Lender) pursuant to or evidenced by the Bank Product Agreements.

  • Secured Bank Product Obligations Debt, obligations and other liabilities with respect to Bank Products owing by an Obligor to a Secured Bank Product Provider; provided, that Secured Bank Product Obligations of an Obligor shall not include its Excluded Swap Obligations.

  • Banking Product Obligations means, as applied to any Person, any direct or indirect liability, contingent or otherwise, of such Person in respect of any treasury, depository and cash management services, netting services and automated clearing house transfers of funds services, including obligations for the payment of fees, interest, charges, expenses, attorneys’ fees and disbursements in connection therewith.

  • Overdraft Obligations means, with respect to any Portfolio, the amount of any outstanding Overdraft(s) provided by the Custodian to such Portfolio together with all accrued interest thereon.