Recourse Financing definition

Recourse Financing means Debt of the Company or any Subsidiary which, by its terms, does not bar the lender thereof from 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.
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Recourse Financing of any Person means all Recourse Indebtedness of such Person which (i) is listed on Schedule 8(b(iii), (ii) is evidenced by a note, bond, indenture, guarantee, surety agreement, reimbursement agreement, or indemnity or is related to a loan or borrowed money, (iii) is a Capital Lease Obligation or (iv) is Permitted Financing.
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Recourse Financing means the financing provided to, or for the benefit of, the Company pursuant to that certain Loan and Security Agreement, dated as of April 18, 2001, between the Company and PNC Leasing, LLC and any collateral security or other related documents entered into in connection therewith.
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Examples of Recourse Financing in a sentence

  • Promax and Bigstone entered into Pipeline Construction and Limited Recourse Financing Agreement dated February 14, 2000 (the "February 14 Agreement") attached hereto as Exhibit "B".

  • Notwithstanding the foregoing, NRG shall have no obligation to provide any Limited Recourse Financing with respect to any Eligible Project.

  • Such certificate shall also include a list of all Subsidiaries that are “Non-Recourse Parties” (as defined in the APAF Facility) (or such equivalent term in the APAFII Facility, the APAFIII Facility or a Limited Recourse Financing) as of the date of such certificate.

  • Before incurring any Permitted Recourse Financing, Borrower shall first use reasonable, good faith efforts to borrow such funds as Permitted Mortgage Financing.

  • For the avoidance of doubt, the term “Operating Project Holding Company Financing” shall not include any Limited Recourse Financing.

Related to Recourse Financing

  • Recourse Obligations has the meaning set forth in Section 2.1.

  • Special Purpose Financing means any financing or refinancing of assets consisting of or including Receivables of the Company or any Restricted Subsidiary that have been transferred to a Special Purpose Entity or made subject to a Lien in a Financing Disposition.

  • Project Financing means: (a) one or more loans, leases, equity and/or debt financings, together with all modifications, renewals, supplements, substitutions and replacements thereof, the proceeds of which are used to finance or refinance the costs of the Customer Facility, any alteration, expansion or improvement to the Customer Facility, the purchase and sale of the Customer Facility or the operation of the Customer Facility; (b) a power purchase agreement pursuant to which Interconnection Customer’s obligations are secured by a mortgage or other lien on the Customer Facility; or (c) loans and/or debt issues secured by the Customer Facility.

  • Securitization Financing means any transaction or series of transactions that may be entered into by the Borrower or any of its Subsidiaries pursuant to which the Borrower or any of its Subsidiaries may sell, convey or otherwise transfer to (a) a Securitization Subsidiary (in the case of a transfer by the Borrower or any of its Subsidiaries) or (b) any other Person (in the case of a transfer by a Securitization Subsidiary), or may grant a security interest in, any Securitization Assets of the Borrower or any of its Subsidiaries, and any assets related thereto, including all collateral securing such Securitization Assets, all contracts and all guarantees or other obligations in respect of such Securitization Assets, proceeds of such Securitization Assets and other assets that are customarily transferred or in respect of which security interests are customarily granted in connection with asset securitization transactions involving Securitization Assets.

  • Non-Financing Lease Obligation means a lease obligation that is not required to be accounted for as a financing or capital lease on both the balance sheet and the income statement for financial reporting purposes in accordance with GAAP. For the avoidance of doubt, a straight-line or operating lease shall be considered a Non-Financing Lease Obligation.