Nonrecourse Obligation definition

Nonrecourse Obligation means indebtedness or other obligations substantially related to (i) the acquisition of assets not previously owned by the Company or any Restricted Subsidiary or (ii) the financing of a project involving the development or expansion of properties of the Company or any Restricted Subsidiary, as to which the obligee with respect to such indebtedness or obligation has no recourse to the Company or any Restricted Subsidiary or any assets of the Company or any Restricted Subsidiary other than 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).

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Nonrecourse Obligation means Indebtedness or lease payment obligations related to (i) the acquisition of a Principal Property not previously owned by the Company or any subsidiary or (ii) the financing of a project involving the development or expansion of any Principal Property owned by the Company or any subsidiary, as to which the obligee with respect to such Indebtedness or obligation has no recourse to the Company or any subsidiary or any of the Company’s or its subsidiaries’ assets other than such Principal Property so acquired, developed or expanded, as applicable.

Nonrecourse Obligation means Indebtedness substantially related to (i) the acquisition of assets not previously owned by the Company or any Restricted Subsidiary or (ii) the financing of a project involving the development or expansion of properties of the Company or any Restricted Subsidiary, as to which the obligee with respect to such Indebtedness has no recourse to the Company or any Restricted Subsidiary or any assets of the Company or any Restricted Subsidiary other than 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).

Examples of Nonrecourse Obligation in a sentence

• Section 12.1. Notices 41 Section 12.2. Term of Funding Loan Agreement 43 Section 12.3. Successors and Assigns 43 Section 12.4. Legal Holidays 43 Section 12.5. Governing Law 43 Section 12.6. Severability 43 Section 12.7. Execution in Several Counterparts 44 Section 12.8. Nonrecourse Obligation of the Borrower 44 Section 12.9. Waiver of Trial by Jury 44 Section 12.10.

• No Recourse Against Officers or Employees of Fiscal Agent 40 ARTICLE XII MISCELLANEOUS Section 12.1. Notices 41 Section 12.2. Term of Funding Loan Agreement 43 Section 12.3. Successors and Assigns 43 Section 12.4. Legal Holidays 43 Section 12.5. Governing Law 43 Section 12.6. Severability 44 Section 12.7. Execution in Several Counterparts 44 Section 12.8. Nonrecourse Obligation of the Borrower 44 Section 12.9. Waiver of Trial by Jury 44 Section 12.10.

• Section 12.1. Notices 46 Section 12.2. Term of Funding Loan Agreement 49 Section 12.3. Successors and Assigns 49 Section 12.4. Legal Holidays 49 Section 12.5. Governing Law 49 Section 12.6. Severability 49 Section 12.7. Execution in Several Counterparts 49 Section 12.8. Nonrecourse Obligation of the Borrower 49 Section 12.9. Waiver of Trial by Jury 50 Section 12.10.

• Section 11.1. Notices 29 Section 11.2. Term of Funding Loan Agreement 31 Section 11.3. Successors and Assigns 31 Section 11.4. Legal Holidays 32 Section 11.5. Governing Law 32 Section 11.6. Severability 32 Section 11.7. Execution in Several Counterparts 32 Section 11.8. Nonrecourse Obligation of the Borrower 32 Section 11.9. Waiver of Trial by Jury 32 Section 11.10.

• No Recourse Against Officers or Employees of Fiscal Agent 37 ARTICLE XII MISCELLANEOUS 37 Section 12.1. Notices 37 Section 12.2. Term of Funding Loan Agreement 40 Section 12.3. Successors and Assigns 40 Section 12.4. Legal Holidays 40 Section 12.5. Governing Law 40 Section 12.6. Severability 40 Section 12.7. Execution in Several Counterparts 40 Section 12.8. Nonrecourse Obligation of the Borrower 40 Section 12.9. Electronic Transactions 41 Section 12.10.

More Definitions of Nonrecourse Obligation

Nonrecourse Obligation means indebtedness or other obligations substantially related to (1) the acquisition of assets not previously owned by the Company, any Subsidiary Guarantor or any of the Company’s other direct or indirect Subsidiaries or (2) the financing of a project involving the development or expansion of properties of the Company, any Subsidiary Guarantor or any of the Company’s other direct or indirect Subsidiaries, as to which the obligee with respect to such indebtedness or obligation has no recourse to the Company, any Subsidiary Guarantor or any of the Company’s other direct or indirect Subsidiaries or any of the Company’s, any Subsidiary Guarantor’s or such Subsidiary’s assets other than 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).

Nonrecourse Obligation means indebtedness or other Obligations substantially related to (1) the acquisition of assets not previously owned by Dell or any of its Subsidiaries or (2) the financing of a project involving the development or expansion of properties of Dell or any of its Subsidiaries, as to which the obligee with respect to such indebtedness or Obligation has no recourse to Dell or any of its Subsidiaries or any assets of Dell or any of its Subsidiaries other than 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).

Nonrecourse Obligation means Indebtedness or lease payment obligations substantially related to (i) the acquisition of assets not previously owned by the Issuer or any Subsidiary or (ii) the financing of a project involving the development or expansion of the Issuer’s or any Subsidiary’s properties, as to which the obligee with respect to such Indebtedness or obligation has no recourse to the Issuer or any Subsidiary or any of the Issuer’s or any Subsidiary’s assets other than 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).

Nonrecourse Obligation means indebtedness or lease payment obligations substantially related to (i) the acquisition of assets not previously owned by the Company or any Consolidated Subsidiary or (ii) the financing of a project involving the development or expansion of the Company’s or any Consolidated Subsidiary’s properties, in either case, as to which the obligee with respect to such indebtedness or obligation has no recourse to the Company or any Consolidated Subsidiary or the Company’s or any Consolidated Subsidiary’s assets other than 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), other than recourse for fraud, misrepresentation, misapplication of cash, waste, environmental claims and liabilities, prohibited transfers, violations of single purpose entity covenants and other circumstances customarily excluded by institutional lenders from exculpation provisions and/or included in separate guaranty or indemnification agreements in non-recourse financings.

Nonrecourse Obligation means indebtedness or other obligations substantially related to (a) the acquisition of assets not previously owned by the Company or any Subsidiary or (b) the financing of a project involving the development or expansion of properties of the Company or any Subsidiary, as to which the obligee with respect to such indebtedness or obligation has no recourse to the Company or any Subsidiary or any assets of the Company or any Subsidiary other than 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).

Nonrecourse Obligation means indebtedness or other obligations substantially related to (i) the acquisition of assets not previously owned by the Company, any Guarantor or any of their respective Subsidiaries or (ii) the financing of a project involving the development or expansion of properties of the Company, any Guarantor or any of their respective Subsidiaries, as to which the obligee with respect to such indebtedness or obligation has no recourse to the Company, any Guarantor or any of their respective Subsidiaries or any assets of the Company, any Guarantor or any of their respective Subsidiaries other than 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).

Nonrecourse Obligation means indebtedness or lease payment obligations substantially related to (i) the acquisition of assets not previously owned by us or any Consolidated Subsidiary or (ii) the financing of a project involving the development or expansion of our or any Consolidated Subsidiary’s properties, in either case, as to which the obligee with respect to such indebtedness or obligation has no recourse to us or any Consolidated Subsidiary or any of our or any of our Subsidiaries’ assets other than 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), other than recourse for fraud, misrepresentation, misapplication of cash, waste, environmental claims and liabilities, prohibited transfers, violations of single purpose entity covenants and other circumstances customarily excluded by institutional lenders from exculpation provisions and/or included in separate guaranty or indemnification agreements in non-recourse financings.