Obligor

Business / Real Estate / Obligor: A promisor, one who incurs a lawful obligation to another (the obligee). The maker of a promissory note is an obligor. In a performance bond, the contractor is the obligor. One who guarantees the performance of the obligation is a surety, also called a guarantor.

Obligatory Advance

Business / Real Estate / Obligatory Advance: Any advance which, under the terms of the credit line deed of trust or other agreement, the secured party has legally obligated itself to make in the absence of a default, breach, or other such event. MORE

Cash-On-Cash Return

Business / Finance / Cash-On-Cash Return: A check drawn directly on a customer's account, making the bank the primary obligor, and assuring firms that the amount will be paid. MORE

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