Recourse Assets definition

Recourse Assets means any Project Assets other than Protected Assets.

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Recourse Assets has the meaning assigned to that term in Section 12.09(c).

Recourse Assets has the meaning ascribed to such term in the definition of Non-Recourse Debt above.

Examples of Recourse Assets in a sentence

If, following final distribution of the realization proceeds of the Recourse Assets applied in accordance with the Transaction Documents, the Borrower has insufficient funds to pay in full its obligations, then the Borrower will not be obliged to pay such shortfall, and all claims in respect of which shall be extinguished.
The Tribe hereby waives on a limited basis its sovereign immunity in the courts of the Commonwealth or federal courts of appropriate jurisdiction in favor of the City for the purpose of resolving all Disputes under this Agreement, provided that any monetary judgment or award against the Tribe resulting from any Dispute shall be enforced or collected only from Recourse Assets.
The net proceeds of the realization of the Recourse Assets or the proceeds of sale of the Recourse Assets of the Borrower following the enforcement of the rights or interests of the Secured Parties may be insufficient to pay all amounts due to the Secured Parties after making payments to other creditors of the Borrower ranking prior to the Secured Parties or pari passu therewith.
The net proceeds of the realization of the Recourse Assets or the proceeds of sale of the Recourse Assets of the Borrower following the enforcement of the rights or interests of the Secured Parties may be insufficient to pay all amounts due to the Secured Parties after making payments to other creditors of Borrower ranking prior to the Secured Parties or pari passu therewith.
The claims of Secured Parties shall be limited to the value from time to time of the Recourse Assets.

More Definitions of Recourse Assets

Recourse Assets means a portion of the assets of SC Adviser, other than Excluded Property, as specified in the SC Adviser Services Agreement; provided that, except as expressly set forth in the SC Adviser Services Agreement, in determining which assets are included as Recourse Assets, if there is more than one type of asset described in this definition that is not fungible with another type of asset described in this definition, a portion of each such non-fungible type of assets described in this definition equal to 24.99% of each such non-fungible type of assets, calculated based on the fair market value thereof.

Recourse Assets means (a) all real and personal property in which the Borrower or any Guarantor has any right, title or interest, and (b) to the extent not included in clause (a), (i) all assets of the Tribe or any Affiliate of the Tribe used in a Gaming Business, (ii) all cash, Cash Equivalents, receivables and other assets generated by the businesses or assets referred to in clauses (a) and (b)(i) of this definition or constituting proceeds of the Indebtedness incurred pursuant to the Loan Documents or any other Indebtedness of the Loan Parties, and (iii) all proceeds, income and profits from any of the assets referred to in clauses (a) and (b) of this definition; provided, however, that “Recourse Assets” excludes (A) funds or other assets actually distributed to the Tribe in accordance with Section 6.04, (B) any Capital Stock in the Borrower or any of its Subsidiaries, (C) any surveillance equipment, computers or related equipment owned by the Gaming Commission and used in connection with its regulatory responsibilities and (D) any Protected Assets.

Recourse Assets means entities or properties (i) which are located in Permitted Jurisdictions, and (ii) to which any part of Gross Senior Debt has direct recourse, whether as primary or secondary obligor, contingent or otherwise, secured or unsecured.

Recourse Assets has the meaning assigned to such term under Section 12.09(c). “Recoveries” means, as of the time any Underlying Collateral with respect to any Collateral Asset is sold, discarded or abandoned (after a determination by the Collateral Manager that such Underlying Collateral has little or no remaining value) or otherwise determined to be fully liquidated by the Collateral Manager in accordance with the Collateral Manager Standard, the proceeds from the sale of the Underlying Collateral, the proceeds of any related Insurance Policy, any other recoveries with respect to such Collateral Asset, as applicable, the Underlying Collateral, and amounts representing late fees and penalties, net of any Liquidation Expenses and any other amounts received that are required under such Collateral Asset, as applicable, to be refunded to the related Obligor. “Register” has the meaning assigned to that term in Section 2.13(a). “Registered” means a debt obligation that is in registered form for U.S. federal income tax purposes within the meaning of Section 881(c)(2)(B)(i) of the Code and the Treasury regulations promulgated thereunder (including Treasury Regulations Section 5f.103-1(c)) and that is issued after July 18, 1984; provided that a certificate of interest in a grantor trust shall not be

Recourse Assets has the meaning ascribed to such term in the definition of Non-Recourse Debt above. 1.1.17 "Relevant Liquid Assets" means Liquid Assets excluding Restricted Cash or Cash Equivalents which is not securing any component of Total Debt. 1.1.18 "Restricted Cash or Cash Equivalents" means any cash or cash equivalents which are subject to any mortgage, charge, pledge, lien, assignment, hypothecation, title retention or trust arrangement or any other arrangement or agreement (which has the effect of creating security). 1.1.19 "Subordinated Debt" means all liabilities and obligations of the Guarantor to any of its Affiliates (other than any Subsidiary) for any indebtedness, whether actual or contingent, present or future, and whether incurred alone or jointly or jointly and severally with any other and in whatever currency, including (without limitation) interest, commission and all other charges and expenses. 1.1.20 "Subordinated Obligations" means all of the liabilities and obligations of any of the Borrowers to the Guarantor or any member of the Group of any kind, whether actual or contingent, present or future, and whether incurred alone or jointly or jointly and severally with any other and in whatever currency, including (without limitation) interest, commission and all other charges and expenses. 1.1.21 "Surety" means any person (other than the Borrowers or the Guarantor) who has given or who may in the future give to any Finance Party any security, guarantee or indemnity for or in relation to the Borrowers’ Obligations. 1.1.22 "Total Assets" means the aggregate of:-

Recourse Assets has the meaning assigned to it in Clause 20.10;

Recourse Assets means, at any given point of time, all assets of SEAG or SFHG (as relevant) that are realised (or may become capable of being realised based on the fair value of such assets determined on a solvent liquidation (over 3 years) basis) in a liquidation or winding up of SEAG or SFHG (as relevant) and applied or may become capable of being applied towards discharge of the Liabilities and the liabilities owed to all other creditors of SEAG or SFHG (as relevant) or available for distribution to all creditors of SEAG or SFHG (as relevant) following deduction or payment of the properly incurred costs and/or expenses of such liquidation or winding up (as relevant).