Non-Recourse Loan. This Loan shall be non-recourse to any Guarantor except as set forth in the Guaranty.
Non-Recourse Loan. The provisions of Section 11 of the Note (Non-Recourse Liability; Recourse Carve-Outs) are hereby incorporated herein by this reference.
Non-Recourse Loan. The Loan is non-recourse to the Applicant; provided however, the nonrecourse carveouts set forth in the Loan Documents are personal obligations of the Applicant and shall be guaranteed by one or more Guarantor(s)s acceptable to Grantee under the terms and conditions set forth in the Loan Documents. The obligations of each Guarantor(s) shall survive any foreclosure proceeding, any foreclosure sale, any delivery of any deed in lieu of foreclosure, and any release of record of the Mortgage. Grantee may pursue its remedies against any Guarantor(s) without first exhausting its remedies against the Applicant or the Project. (d)
Non-Recourse Loan. The Gap Financing Loan is non- recourse to the Applicant; provided however, the nonrecourse carveouts set forth in the Loan Documents are personal obligations of the Applicant and shall be guaranteed by one or more Guarantors acceptable to LHC under the terms and conditions set forth in the Loan Documents. The obligations of each Guarantor shall survive any foreclosure proceeding, any foreclosure sale, any delivery of any deed in lieu of foreclosure, and any release of record of the Mortgage. LHC may pursue its remedies against any Guarantor without first exhausting its remedies against the Applicant or the Project. Additionally, in the event of a default by the borrower under the Gap Financing Loan, LHC may pursue remedies against the borrower under any other loan agreements, grant agreements, or other obligations of the borrower in favor of LHC.
Non-Recourse Loan. (a) Except as otherwise provided herein, Surety shall not enforce the liability and obligation of Borrower to perform and observe the obligations contained in this Agreement, the Note, the Surety Bond or the Transaction Documents by any action or proceeding wherein a money judgment shall be sought against Borrower or SELCO, except that Surety may bring a foreclosure action, action for specific performance or other appropriate action or proceeding to enable Surety to enforce and realize upon this Agreement, the Mortgages or other Transaction Documents, and the Properties or any of them; provided, however, that any judgment in any action or proceeding shall be enforceable against Borrower only to the extent of Borrower's interest in the Properties.
Non-Recourse Loan. Borrower shall not be obligated to make payments hereunder from any source other than from funds attributable to distributions from the CDE. If and to the extent Borrower shall have not received distributions from the CDE of funds attributable to Project Loan payments (after payment of CDE’s expenses) in an amount sufficient to pay amounts then due to Lender, then (i) Borrower shall not be in default hereunder or under the other Loan Documents, (ii) Lender’s right to receive payments pursuant to the Loan Documents shall not be waived, and (iii) such amounts then due shall accrue and shall only become payable at such time as sufficient distributions are available from the CDE to permit such payments to be made; provided, that in all events such amounts shall be payable in full on the Maturity Date.
Non-Recourse Loan. The Loan (IF) represented by these Loan Documents (TF) is non-recourse except as to the Collateral. Borrower and Lender agree that upon Lender exhausting the Collateral, Lender shall have no additional right to payment or to any deficiency from Borrower.
Non-Recourse Loan. Notwithstanding anything to the contrary contained in this Deed of Trust, the obligations of Grantor hereunder shall be non-recourse except as otherwise provided in Section 4.04 of the Note, the terms of which are incorporated herein by reference, as if fully set forth herein.
Non-Recourse Loan. (a) Except as otherwise provided herein, Noteholder shall not enforce the liability and obligation of Borrower to perform and observe the obligations contained in this Agreement, the Note or the Transaction Documents by any action or proceeding wherein a money judgment shall be sought against Borrower or SELCO, except that Noteholder may bring a foreclosure action, action for specific performance or other appropriate action or proceeding to enable Noteholder to enforce and realize upon the Mortgages or other Transaction Documents, and the Properties or any of them; provided, however, that any judgment in any action or proceeding shall be enforceable against Borrower only to the extent of Borrower's interest in the Properties.
Non-Recourse Loan. Subject to the provisions of Section 8 and notwithstanding any other provision in this Note or the other Loan Documents, the personal liability of the Borrower and any Borrower Principal (collectively, the Persons signing as the Borrower Principals at the end of this Note) to pay the Principal Amount and interest thereon and any other sums under this Note or the other Loan Documents shall be limited to (a) the Premises, (b) the Intangible Personalty, (c) all Rents and Profits disbursed (except to the extent that the Borrower did not have the legal right, because of a bankruptcy, receivership or similar judicial proceeding, to direct the disbursement of such sums), and not applied, first, to the payment of reasonable Operating Expenses as such Operating Expenses become due and payable, and then, to the payment of the Principal Amount and interest then due and payable under this Note and any other sums due under the other Loan Documents (including but not limited to deposits, escrows and/or reserves); provided, however, that there shall be no personal liability incurred for Rents and Profits distributed in any particular fiscal year to the extent that all Operating Expenses and principal and interest due under this Note and other sums due under the other Loan Documents (including but not limited to deposits, escrows and or reserves) are paid in full in that fiscal year, and (d) all other collateral or security for the Loan. Except as provided above and in Section 8, the Lender shall not seek (i) any judgment for a deficiency against the Borrower or any Borrower Principal or the Borrower's or any Borrower Principal's heirs, legal representatives, successors or assigns, in any action to enforce any right or remedy under the Security Instrument, or (ii) any judgment on this Note except as may be necessary in any action brought under the Security Instrument to enforce the lien against the Premises, the Intangible Personalty, the Rents and Profits or any other collateral or security for the Loan, or to exercise any remedies under any of the other Loan Documents.
