They are to be distinguished from surety bonds in that they did not require any party to act as surety having an obligee and obligor sufficed.
22.
An unstressed PD is an estimate that the obligor will default over a particular time horizon considering the current macroeconomic as well as obligor specific information.
23.
An unstressed PD is an estimate that the obligor will default over a particular time horizon considering the current macroeconomic as well as obligor specific information.
24.
However, an obligor who has had his solidarity renounced would never be liable for more than his fair portion if an obligor never becomes insolvent.
25.
However, an obligor who has had his solidarity renounced would never be liable for more than his fair portion if an obligor never becomes insolvent.
26.
Then the must be forms designed to elicit this information and presumably a consideration by the court of the obligor-parent's ability to pay.
27.
NMS and TLC have further notified the trustee that the obligor is under default on its lease with Wind Gap Farms relating to the facility's property.
28.
Thus an obligation encompasses both sides of the equation, both the obligor's duty to render prestation and the obligee's right to receive prestation.
29.
This method of substituting the obligor is desirable for defendants or property / casualty companies that do not want to retain the periodic payment obligation on their books.
30.
This implies that if the macroeconomic conditions deteriorate, the PD of an obligor will tend to increase while it will tend to decrease if economic conditions improve.
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