Recourse Party definition
Examples of Recourse Party in a sentence
This Agreement is intended to be solely for the benefit of the parties hereto and is not intended to confer any benefits upon, or create any rights in favor of, any Person other than the parties hereto and other than (a) the Indemnified Parties with respect to Section 9 hereof and (b) each No Recourse Party with respect to Section 13.14 hereof.
All Leases shall be bona fide, binding contracts, duly authorized and executed with third-party tenants, residents, and/or occupants unrelated to Borrower, any Recourse Party or any of their Affiliates.
No action under or in connection with this Agreement shall be brought against any Non-Recourse Party, and no judgment for any deficiency upon the obligations hereunder shall be obtainable against any Non- Recourse Party.
The TFG Recourse Party shall guaranty the TFG Member’s obligation to make any Capital Contributions to the Venture in an amount equal to the Excess Promote Distribution pursuant to this Section 6.05(d).
This Section 12.16 is intended to benefit and may be enforced by the Purchaser and each Non- Recourse Party (and each such Person will be a third party beneficiary of this Section 12.16) and will be binding on all the respective successors and permitted assigns of the Sellers and the Selling Parties Representative.
The Guaranteed Party and its Affiliates are not relying upon any prior or contemporaneous statement, undertaking, understanding, agreement, representation or warranty, whether written or oral, made by or on behalf of the Guarantor, any other Recourse Party or any Non-Recourse Party in connection with this Guaranty except as expressly set forth herein or in the Agreement, the Sponsor Commitment Letter, the Rollover Commitment Letter or the Confidentiality Agreement.
By execution of this Agreement, the TFG Recourse Party acknowledges and agrees to its obligations under this Section 6.05(d).
There are no third party beneficiaries under this Agreement, except that each No Recourse Party shall be a third party beneficiary of Section 9.24.
There are no third party beneficiaries under this Agreement, except that each No Recourse Party (as defined in Section 13.24) shall be a third party beneficiary of Section 13.24, and the rights or obligations of any Party under this Agreement may not be assigned, delegated, or transferred to any other Person.
The Guaranteed Party hereby covenants and agrees that, other than with respect to the Retained Claims in the case of any Recourse Party, it shall not, and it shall cause its controlled Affiliates not to, institute any proceeding or bring any claim in any way under, in connection with or in any manner related to any Transaction-Related Matter (whether at law or in equity, whether sounding in contract, tort, statute or otherwise) against any Recourse Party or any Non-Recourse Party.