obligee

from The Collaborative International Dictionary of English v.0.48

obligee \ob`li*gee"\ ([o^]b`l[i^]*j[=e]"), n. [F. oblig['e], p.
   p. of obliger. See {Oblige}.]
   The person to whom another is bound, or the person to whom a
   bond is given. --Blackstone.
   [1913 Webster]

from Bouvier's Law Dictionary, Revised 6th Ed (1856)

OBLIGEE or CREDITOR, contracts. The person in favor of whom some obligation 
is contracted, whether such obligation be to pay money, or to do, or not to 
do something. Louis. Code, art. 3522, No. 11. 
     2. Obligees are either several or joint, an obligee is several when the 
obligation is made to him alone; obligees are joint when the obligation is 
made to two or more, and, in that event, each is not a creditor for his 
separate share, unless the nature of the subject or the particularity of the 
expression in the instrument lead to a different conclusion. 2 Evans' Poth. 
56; Dyer 350 a, pl. 20; Hob. 172; 2 Brownl. 207 Yelv, 177; Cro. Jac. 251.