Examples of Permitted Recourse Debt in a sentence
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If FNMA Mortgage Pool #1 shall be repaid in full prior to the date which is twelve (12) months following the Effective Date, from the date of such repayment until the date which is twelve (12) months following the Effective Date, Secured Debt shall be Non-Recourse Indebtedness, except for Permitted Recourse Debt, and the ratio of Secured Debt to Market Value shall not exceed thirty-five percent (35%).
As of any date, the Companies, individually or on a consolidated basis, to incur, guarantee, or otherwise be or become, directly or indirectly, liable in respect of any Recourse Debt (other than Permitted Recourse Debt).
As of any date prior to the Change Date, Recourse Debt of the Companies, on a consolidated basis, (other than Permitted Recourse Debt) to exceed $350,000,000.