* * *
Universalium. 2010.
nonrecourse loan — A loan for which no partner or related person bears the economic risk of loss. For example, if a partnership fails to repay a nonrecourse loan, the lender has no recourse against any partner except to foreclose of the assets used to secure the… … Financial and business terms
nonrecourse loan — noun : a loan by which a lender agrees to accept the collateral security in lieu of repayment from the borrower if he is unable to pay or if the value of the security falls below the amount of the loan : a loan in which a lender under an… … Useful english dictionary
nonrecourse loan — Type of security loan which bars the lender from action against other assets of the borrower if the security value of the specified collateral for the loan falls below the amount required to repay the loan. It is used by the U.S. in loans to… … Black's law dictionary
nonrecourse loan — Type of security loan which bars the lender from action against other assets of the borrower if the security value of the specified collateral for the loan falls below the amount required to repay the loan. It is used by the U.S. in loans to… … Black's law dictionary
nonrecourse — adjective Date: 1926 being or based on an agreement in which the lender has no right of recourse to the borrower s assets beyond stated limits < a nonrecourse note > < a nonrecourse loan > … New Collegiate Dictionary
loan — A lending. Delivery by one party to and receipt by another party of sum of money upon agreement, express or implied, to repay it with or without interest. Boerner v. Colwell Co., 21 Cal.Sd 37, 145 Cal.Rptr. 380, 384, 577 P.2d 200. Anything… … Black's law dictionary
loan — A lending. Delivery by one party to and receipt by another party of sum of money upon agreement, express or implied, to repay it with or without interest. Boerner v. Colwell Co., 21 Cal.Sd 37, 145 Cal.Rptr. 380, 384, 577 P.2d 200. Anything… … Black's law dictionary
Nonrecourse debt — Non recourse debt or a non recourse loan is a secured loan (debt) that is secured by a pledge of collateral, typically real property, but for which the borrower is not personally liable. If the borrower defaults, the lender/issuer can seize the… … Wikipedia
recourse loan — Loan on which an endorser or guarantor is liable in event of default of borrower. See also recourse with recourse Compare nonrecourse loan … Black's law dictionary
nonrecourse — adj. without recourse; of a loan in which only the property mortgaged may be reclaimed in the case of default … English contemporary dictionary
