Limited Recourse Basis definition
Limited Recourse Basis means a secured financing in respect of an asset or related group of assets (which together comprise a single project) in which the relevant financier’s recourse and Security are limited solely to that asset or group of assets or, in the case where a Single Purpose Entity owns or operates that asset or group of assets, the shares in that Single Purpose Entity or its Single Purpose Holding Entity, the revenues from that asset or group of assets and any proceeds from the enforcement of that Security.