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 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.
Examples of Non-Recourse Financing in a sentence
Cash flow from financing activities104,62343,951Decrease/Increase in cash, cash equivalents and bank overdrafts 25,946 16,125Cash and cash equivalent at the beginning of thefinancialyear38,97022,845Cash in banks at the end of the financial year64,91638,970 Note 15.- Non-recourse Financing.
This applies whether the corporation took the property subject to, or assumed, the liabilities.3. Loans for which you are personally liable that were used to finance the activity, to acquire property used in the activity, or to acquire your interest in the activity and qualified nonrecourse financing (defined under Qualified Nonrecourse Financing, earlier).
See Qualified Nonrecourse Financing, later.2. Cash, property, or borrowed amounts used in the activity that are protected against loss by a guarantee, stop-loss agreement, or other similar arrangement (excluding casualty insurance and insurance against tort liability).
Non-recourse Financing and Other Debt In order to facilitate the construction, sale or ongoing operation of certain solar projects, including our residential leasing program, we regularly obtain project-level financing.
Regardless of the form a transaction may take, the taxpayer’s amount at risk will not be increased if the transaction is inconsistent with normal commercial practices or is, in essence, a device to avoid IRC section 465.3 Qualified Nonrecourse Financing Prior to 1986, holding real property (except for mineral property) was excluded from the at risk rules.
More Definitions of Non-Recourse Financing
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 Indebtedness incurred in connection with the purchase or lease of personal or real property useful in the business of Borrowers and their Subsidiaries and (i) as to which the lender upon default may seek recourse or payment as against a Borrower or any of its Subsidiaries only through the return or sale of the property or equipment so purchased or leased and (ii) may not otherwise assert a valid claim for payment on such Indebtedness against a Borrower or any of its Subsidiaries or any other property of a Borrower or any of its Subsidiaries.
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. Indebtedness incurred in connection with the construction, purchase or lease of personal or real property or equipment (a) as to which the lender upon default may seek recourse or payment against any Group Member 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 (b) may not otherwise assert a valid claim for payment on such Indebtedness against any Group Member or any other property of any Group Member except in each case in the case of fraud and other customary non-recourse exceptions.
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 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 Borrower or any of its Subsidiaries 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 (b) may not otherwise assert a valid claim for payment on such Indebtedness against a Borrower or any of its Subsidiaries or any other property of a Borrower or any of its 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) (other than the Equity Interests of an Unrestricted Subsidiary or a Non-Recourse Subsidiary), other than pursuant to a Permitted Project Undertaking or Permitted Equity Commitment.