Non-Recourse Carveout Guaranty definition

Non-Recourse Carveout Guaranty means a guaranty of so-called “recourse carveout” provisions including, without limitation, fraud, misrepresentation, misappropriation or misapplication of funds, misapplication of rents after default, waste, gross negligence and willful misconduct, that a Third Party Lender requires a third party execute and deliver in favor of such Third Party Lender in connection with a Third Party Loan.
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Non-Recourse Carveout Guaranty. The meaning set forth in Section 3.5 hereof.
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Non-Recourse Carveout Guaranty shall have the meaning provided in the definition of “Major Decision.”
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Examples of Non-Recourse Carveout Guaranty in a sentence

  • If any Whitehall Member (or an Affiliate thereof) agrees to provide a Loan Guaranty or a Non-Recourse Careveout Guaranty, any reimbursement the Company shall disburse to such Whitehall Member (or an Affiliate thereof) shall include interest at a rate of fifteen percent (15%) per annum from the date such amounts are actually paid by such Whitehall Member (or an Affiliate thereof) under the relevant Loan Guaranty or Non-Recourse Carveout Guaranty.

  • Non-Recourse Carve-out Guaranty made by Borrower for the benefit of U.S. Bank National Association, successor to Bank of America, N.A. (successor by merger to LaSalle Bank National Association), as Trustee for the Bear Xxxxxxx Commercial Mortgage Securities, Inc., Commercial Mortgage Pass-Through Certificates, Series 2003-TOP12, dated as of December 19, 2011.


More Definitions of Non-Recourse Carveout Guaranty

Non-Recourse Carveout Guaranty means that certain Non-Recourse Carveout Guaranty relating to the Loan, dated as of the date hereof, made by Guarantor in favor of the Lender.
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Non-Recourse Carveout Guaranty means a market standard non-recourse carve-out guarantee, including, but not limited to, obligations resulting from the primary obligor’s (i) fraud or intentional misrepresentation, (ii) gross negligence or willful misconduct, (iii) breach of any representation, warranty, covenant or indemnification provision contained in the environmental indemnity or in any security document or loan document concerning environmental laws, hazardous substances and/or asbestos, (iv) removal or disposal of any portion of collateral securing a loan after an occurrence and continuance of an event of default, (vi) the misapplication or conversion of any proceeds paid by reason of any loss, damage or destruction to property, (vii) any deposits collected with respect to property which are not delivered in accordance with the terms of the loan documents, or (viii) other similar acts generally associated with a “bad boy” carve-out guaranty.
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Non-Recourse Carveout Guaranty means that certain Guaranty Agreement, dated as of the Closing Date, given by Entity Guarantors, Xxxxxxx X. Xxxxxxxxx and Xxxxxxxxx X. Xxxxx Xx. to and for the benefit of Lender, as the same may be amended, supplemented or otherwise modified from time to time.
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Non-Recourse Carveout Guaranty means that certain Agreement of Guaranty and Suretyship, of even date herewith, given by the Guarantor to the Lender, as the same may be amended, replaced or supplemented from time to time with the prior written consent of the Lender.
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Non-Recourse Carveout Guaranty means a limited guaranty of customary recourse carveouts to a non-recourse financing, such as fraud and misappropriation and environmental indemnities, including, without limitation, that certain Guaranty of Recourse Obligations, dated as of June 25, 2009, by Street in favor of the Collateral Agent.
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Related to Non-Recourse Carveout Guaranty

  • Non-Recourse Indebtedness means Indebtedness the terms of which provide that the lender’s claim for repayment of such Indebtedness is limited solely to a claim against the property which secures such Indebtedness.

  • Non-Recourse Debt means Indebtedness:

  • Guaranty Agreement means an agreement executed by the Guarantors in substantially the form of Exhibit F-2 unconditionally guarantying on a joint and several basis, payment of the Indebtedness, as the same may be amended, modified or supplemented from time to time.

  • Guaranty means, with respect to any Person, any obligation (except the endorsement in the ordinary course of business of negotiable instruments for deposit or collection) of such Person guaranteeing or in effect guaranteeing any indebtedness, dividend or other obligation of any other Person in any manner, whether directly or indirectly, including (without limitation) obligations incurred through an agreement, contingent or otherwise, by such Person:

  • Completion Guaranty means that certain Completion Guaranty, dated as of the Closing Date, executed by Sponsor and Borrower for the benefit of Lender, as the same may be amended, restated, replaced, supplemented or otherwise modified in accordance herewith.

  • Limited Recourse Indebtedness means Indebtedness incurred by the Parent Guarantor or any Subsidiary to finance the creation or development of a Project or proposed Project of the Parent Guarantor or such Subsidiary, provided that, as specified in the terms of such Limited Recourse Indebtedness: