nonrecourse

listen to the pronunciation of nonrecourse
English - English
Without recourse, as in a non-recourse lease
{s} without recourse; of a loan in which only the property mortgaged may be reclaimed in the case of default
In the case of default, the lender has ability to claim assets over and above what the limited partners contributed
no personal liability Lenders may take the property pledged as collateral to satisfy a debt, but have no recourse to other assets of the borrower
Of or pertaining to a form of financing, typically debt financing, in which the lenders recourse to recovery in the event of default is limited to the collateral asset only
In the case of default, the lender has no ability to claim assets over and above what the limited partners contributed
nonrecourse
Favorites