Issuers want to avoid offering variable-rate demand obligations because they fear that if rates rise or their creditworthiness declines, they may not be able to roll over short-term borrowings.

FORBES: Move Over Treasuries, Muni Bonds Are The New Bellwether

To keep borrowing costs from exploding, municipal borrowers sought big bank letters of credit as backstop guarantees on the shorter than they wanted variable-rate demand obligations they turned to.

FORBES: Muni Bond Default Concerns Are Real

Their need to comply with their international obligations is the demand of the international community and specifically of the P5-plus-1.

WHITEHOUSE: Press Briefing

The Chief Justice said Welfare had violated its constitutional obligations, which demand that all parties must respect the principles of Turkish secularism.

BBC: Despatches

The international community stands united in its commitment to the denuclearization of the Korean Peninsula and in its demand that North Korea comply with its international obligations.

WHITEHOUSE: Press Briefing

But Oshkosh made the same kind of mistake that many other well-run companies made at the height of the sub-prime housing boom, buying deep into the construction equipment sector at the top of the market and then suffering a staggering collapse in demand that impaired its capacity to meet debt obligations.

FORBES: Oshkosh Proof That Pentagon Can Make, Or Break, A Company

It added that by considering and ultimately refusing the demand, the board had properly and fully executed its fiduciary and legal obligations to AIG and its shareholders.

BBC: AIG logo