### Question
What does obligation mean?


### Answer
**Obligation** has the following meaning in *46 U.S.C. § 53701*:

> an instrument of indebtedness issued for a purpose described in section 53706 of this title, except—


(A) an obligation issued by the Secretary under section 53723 of this title

#### Citation:
  - *46 U.S.C. § 53701*
  - Heading: **Subtitle V-Merchant Marine > Part C-Financial Assistance Programs > CHAPTER 537-LOANS AND GUARANTEES > SUBCHAPTER I-GENERAL**

