### Question
How is the "obligor" defined?


### Answer
The term **obligor** is defined in *23 U.S.C. § 601* as follows -

> a party primarily liable for payment of the principal of or interest on a Federal credit instrument, which party may be a corporation, partnership, joint venture, trust, or governmental entity, agency, or instrumentality

#### Citation:
  - *23 U.S.C. § 601*
  - Heading: **CHAPTER 6-INFRASTRUCTURE FINANCE**

