Examples of 'secured obligation' in a sentence
Meaning of "secured obligation"
Secured obligation: This phrase typically refers to a legal or financial commitment that is backed by collateral or a guarantee, ensuring that the obligation will be fulfilled. It is often used in the context of loans, contracts, or agreements where there is a need for additional security or protection
How to use "secured obligation" in a sentence
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secured obligation
Connection between security and secured obligation.
Enables the secured obligation to be determined.
Acceptance of encumbered assets in satisfaction of the secured obligation.
Right to assign the secured obligation and the security right.
Acquisition of encumbered assets in satisfaction of the secured obligation.
The amount of the secured obligation may be expressed in any currency.
Acquisition of an encumbered asset in satisfaction of the secured obligation.
A specific description of each secured obligation is usually not necessary see para.
Rights and remedies with respect to the secured obligation.
A generic description of the secured obligation and the encumbered assets is sufficient.
Right to impute revenues to the payment of the secured obligation.
A generic description of the secured obligation and the encumbered assets should be sufficient.
Duty to return encumbered assets upon payment of secured obligation.
Secured obligation The obligation secured by a security right is a “ secured obligation ”.
Maximum value of secured obligation.
See also
The acceptance is deemed to be complete payment and therefore extinguishes the secured obligation.
If a debtor fails to perform a secured obligation the debtor is in “ default ”.
Redeeming the encumbered assets discharges the secured obligation.
Redemption of the encumbered assets should be distinguished from reinstatement of the secured obligation.
Iv . Maximum value of secured obligation.
The proceeds distributed to the secured creditor are applied towards satisfaction of the secured obligation.
Redemption of the encumbered assets occurs only when the secured obligation is discharged in full.
The acquisition is deemed to be complete payment and therefore extinguishes the secured obligation.
Normally, the security is accessory to the secured obligation.
A further question is whether the notice must disclose the monetary value of the secured obligation.
Post-default rights with respect to the secured obligation.
It should identify the parties and reasonably describe the encumbered asset and the secured obligation.
Release of the encumbered assets and reinstatement of the secured obligation.
Extinction of the security right after full satisfaction of the secured obligation.
The sum of the main contract and the subject of the secured obligation.
It should identify the parties and reasonably describe the encumbered assets and the secured obligation.
Ii Extinction of the security right after full payment of the secured obligation.
An assignment of the security interest in such equipment transfers also the principal, secured obligation.
Debtor A “ debtor ” is a physical or legal person that owes performance of the secured obligation.
Finally, some States permit any interested party to cure a default and reinstate the secured obligation.
Security rights are accessory to, or dependent upon, the secured obligation.
Article 71 . Acquisition of an encumbered asset in satisfaction of the secured obligation.
Debtor A “ debtor ” is a person that owes performance of the secured obligation.
Article 65 . Extinction of the security right after full satisfaction of the secured obligation.
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