recourse
81limited recourse loan — Finance provided by means of a loan that is secured by a charge on assets. Should the borrower default, the lender is entitled to enforce the charge but can recover only a limited amount of any shortfall directly from the borrower itself. This… …
82non-recourse loan — A loan secured by a charge on assets. If the borrower defaults and the security does not realise the full value of the loan, the lender cannot recover the shortfall from the borrower. Practical Law Dictionary. Glossary of UK, US and international …
83have recourse — index resort Burton s Legal Thesaurus. William C. Burton. 2006 …
84have recourse to — index employ (make use of) Burton s Legal Thesaurus. William C. Burton. 2006 …
85Without recourse — Without the lender having any right to seek payment or seize assets in the event of nonpayment from anyone other than the party (such as a special purpose entity) specified in the debt contract. The New York Times Financial Glossary * * * without …
86without recourse — A lending expression that means loans or leases that have been acquired from an original lender with no guaranty from the originator. American Banker Glossary Giving the lender no right to seek payment or seize assets in the event of nonpayment… …
87without recourse financing — Financing in which the right of recourse to the party receiving funds is forfeited to the party advancing funds. This may be evidenced by conditions added to the endorsement of a draft being sold by an exporter in order to protect the exporter,… …
88Transactions with recourse — An arrangement whereby a bank sells a loan or other asset to a third party, but retains an obligation to assume the credit risk if the borrower defaults or the value of the asset otherwise deteriorates. Typically, these involve the sale of… …
89have recourse to — we had recourse to the national committee for additional funding Syn: resort to, make use of, avail oneself of, turn to, call on, look to, fall back on …
90indorsement without recourse — See without recourse …
