RECOURSE CONTRACTS definition
RECOURSE CONTRACTS any Contract for which Borrower has entered into a financial recourse agreement with a vendor, broker or other qualified third party in accordance and consistent with Borrower's Credit and Collection Policy. "Sub-lease Contracts" - any Contract where the User rents or sublets the Equipment to a third party in the ordinary course of User's business.
RECOURSE CONTRACTS means those installment sales contracts which have been transferred to various third party lenders, subject to the limited recourse guaranty of the Company.