Non-Recourse Financing definition
Non-Recourse Financing means Indebtedness incurred in connection with the purchase, development or construction of personal or real property useful in the Permitted Business as to which the lender upon default (1) may seek recourse or payment against the Company or any Restricted Subsidiary only through the return or sale of the property so purchased and (2) may not otherwise assert a valid claim for payment on such Indebtedness against the Company or any Restricted Subsidiary or any other property of the Company or any Restricted Subsidiary.
Non-Recourse Financing means Indebtedness incurred in connection with the construction, installation, purchase or lease of personal or real property or equipment (a) as to which the lender upon default may seek recourse or payment against a Credit Party only through the return or foreclosure or sale of the property or equipment so constructed, installed, purchased or leased and to any proceeds of such property and Indebtedness and the related collateral account in which such proceeds are held and (b) may not otherwise assert a valid claim for payment on such Indebtedness against a Credit Party or any other property of a Credit Party, except, in each of the foregoing clauses (a) and (b), (i) in the case of customary or “market standard” non-recourse exceptions, including fraud and environmental indemnities and (ii) the assets which were acquired with the proceeds of such transaction or the project financed with the proceeds of such transaction (and the proceeds thereof).
Non-Recourse Financing means any Indebtedness (including any undertaking, guarantee, indemnity, agreement, letter of credit or instrument that would constitute Indebtedness):
Examples of Non-Recourse Financing in a sentence
As a material inducement to ▇▇▇▇ to enter into this Amendment, Morgans represents, warrants and covenants with ▇▇▇▇ that any financing obtained in connection with the acquisition of the Hard Rock Property shall be Non-Recourse Financing with respect to Morgans Parent and any of its Affiliates.
Following execution of this Agreement, Tenaska shall endeavor in good faith to obtain Non-Recourse Financing for the Plant.
The terms and conditions of the Non-Recourse Financing shall require the unanimous approval by all of the Parties.
The Parties intend to obtain the Non-Recourse Financing for Medusa Spar LLC in an amount equal to 50% of Deemed Value.
As a material inducement to Boyd to enter into this Amendment, Morgans represents, warrants a▇▇ ▇ovenants with Boyd that any financing obtained in connection with the acquisition ▇▇ the Hard Rock Property shall be Non-Recourse Financing with respect to Morgans Parent and any of its Affiliates.
More Definitions of Non-Recourse Financing
Non-Recourse Financing means Debt of the Company or any Subsidiary which, by its terms, bars the lender thereof from any action against the Company or any Subsidiary, as borrower or guarantor, if the security value of the project or asset pledged in respect thereof falls below the amount required to repay such Debt.
Non-Recourse Financing means Indebtedness incurred in connection with the construction, installation, purchase or lease of personal or real property or equipment or Specified FF&E (a) as to which the lender upon default may seek recourse or payment against a Borrower or any of its Restricted Subsidiaries only through the return or foreclosure or sale of the property or equipment or the other Specified FF&E so constructed, purchased or leased and to any proceeds of such property and Indebtedness and the related collateral account in which such proceeds are held and (b) may not otherwise assert a valid claim for payment on such Indebtedness against a Borrower or any of its Restricted Subsidiaries or any other property of a Borrower or any of its Restricted Subsidiaries, except, in each of the foregoing clauses (a) and (b), in the case of customary non-recourse exceptions, including fraud and environmental indemnities.
Non-Recourse Financing means any Indebtedness owed to a Person unrelated to Parent or any of its Subsidiaries or Affiliates with respect to which neither the Issuer nor any Guarantor (a) is, or has any obligation (contingent or otherwise) to become, an obligor under any agreements or contracts evidencing such Indebtedness (other than pursuant to Permitted Project Undertakings or Permitted Equity Commitments) or (b) has granted a Lien on any of its assets as security (or has any obligation, contingent or otherwise, to do so).
Non-Recourse Financing means any indebtedness which is, or is expected to be, recorded as “non-recourse financing” in the Issuer’s annual consolidated financial statements prepared in accordance with IFRS- IASB;
Non-Recourse Financing means, in this instance, loan financing pursuant to which neither Morgans Parent nor any of its Affiliates, shall have any financial or credit obligations or any related liability to any lender or other third party, related to any capital contributions or payment or credit support arising from or related to such financing of the Hard Rock Property (other than carve-outs and exceptions that may be reasonably customary for non-recourse financings).
Non-Recourse Financing means Indebtedness incurred in connection with the purchase or lease of personal or real property useful in the business of the Borrower, Starwood REIT or any Restricted Subsidiary and (a) as to which the lender upon default may seek recourse or payment against the Borrower, Starwood REIT or any Restricted Subsidiary only through the return or sale of the property or the equipment so purchased or leased, or in the case of any Indebtedness issued by a special purpose entity with no material assets other than the assets so financed, only through foreclosure upon the assets or Capital Stock of such special purpose entity and (b) may not otherwise assert a valid claim for payment on such Indebtedness against the Borrower, Starwood REIT or any Restricted Subsidiary (other than as specified above) or any other property of the Borrower, Starwood REIT or any Restricted Subsidiary.
Non-Recourse Financing means Indebtedness incurred in connection with the construction, purchase or lease of personal or real property or equipment (1) as to which the lender upon default may seek recourse or payment against ACEP or any Restricted Subsidiary only through the return or foreclosure or sale of the property or equipment so constructed, purchased or leased and to any proceeds of such property and Indebtedness and the related collateral account in which such proceeds are held and (2) may not otherwise assert a valid claim for payment on such Indebtedness against ACEP or any Restricted Subsidiary or any other property of ACEP or any Restricted Subsidiary except in each case in the case of fraud and other customary non-recourse exceptions.