Gerald Odonis' logic is generous in its acceptance of ontological counterparts of linguistic expressions. He claims that universals have an objective status and are independent of our mental operations. This article takes a closer look at his views on the meaning of what he calls esse tertio adiacens, i.e., the type of being expressed in propositions of the form 'S is P'. To a certain extent Odonis' analysis resembles Peter of Spain's account of compositio. Unlike his predecessor, however, Odonis thinks that the 'being' used in any true statement, regardless of whether the subject exists or not, is univocal. It turns out that Odonis' account is more in line with John Duns Scotus' intensionalist theory of propositional composition.