Limited Recourse Guarantees definition
Limited Recourse Guarantees the collective reference to the Service Merchandise Plaza Guarantee, the BCCP Guarantee, the BLP Guarantee, the BSCP Guarantee and the Wolfchase BB&B Guarantee, together with any similar guaranties given by any Owners of additional Collateral Properties added pursuant to Section 2.20 hereof which are not the Borrower.
Limited Recourse Guarantees means Guarantees in the form of indemnification for fraud, misapplication of cash, environmental claims, and other circumstances customarily required by institutional lenders in non-recourse secured financings of real estate or to special purpose entities.
Examples of Limited Recourse Guarantees in a sentence
Authorization of the Limited Recourse Guarantees.......................................
Holdings will also provide guarantees (the "Limited Recourse Guarantees") of the Issuer's obligations under the Notes, the recourse under which will be limited to amounts deposited in the Escrow Accounts.
Neither the Issuer nor the Guarantor nor Holdings is, and upon the issuance and sale of the Notes and the issuance of the Guarantees and the Limited Recourse Guarantees as herein contemplated and the application of the net proceeds from the issuance and sale of the Notes as described in the Offering Memorandum will not be, an "investment company" as such terms are defined in the Investment Company Act of 1940, as amended (the "Investment Company Act").