Recourse Liabilities definition
Examples of Recourse Liabilities in a sentence
Such amount shall be used to pay Recourse Liabilities and/or Exculpatory Liabilities or shall be distributed to Members other than DAI in accordance with their positive Capital Account balances.
Nothing in this Section 3.2 shall be deemed to obligate any Member to cause any of its Affiliates to incur any Recourse Liabilities.
The Limited Guarantor has maintained the ratio of Adjusted Total Recourse Liabilities to Adjusted Tangible Net Worth no greater than 6:1.
Asset Securitization Recourse Liabilities shall not constitute "guarantees" hereunder.
As used herein, the term “Guaranteed Obligations” means (i) Guarantor’s Recourse Liabilities (as defined herein), (ii) from and after the occurrence of any Springing Recourse Event (as defined herein), payment in full of the Obligations, and (iii) the Guaranty of Payment (as defined herein).