Full Recourse Event definition

Full Recourse Event means any of those events or circumstances described in clause (h) of the definition of “Recourse Liability Events” in this Section 1.1.

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Full Recourse Event has the meaning provided in Section 8.14.

Full Recourse Event means any of the following: (a) a filing by Borrower of a bankruptcy petition or involuntary placement of Borrower into bankruptcy by Guarantor or an accountant, attorney or other representative of Guarantor, (b) making by Borrower of an assignment for the benefit of creditors, (c) the appointment of a receiver of any property of Borrower in any action initiated by, or consented to, by Guarantor, or (d) any change of Control of the Borrower or Guarantor prohibited under the terms of the Loan Agreement or any Loan Document.

Examples of Full Recourse Event in a sentence

Such assumption and responsibility shall occur automatically upon the occurrence of any Full Recourse Event without further action on the part of any Person.
In the event of the occurrence of any Full Recourse Event, Guarantor hereby irrevocably, unconditionally and absolutely agrees to assume and be responsible for the prompt and complete payments of all principal, Interest, Additional Interest and other sums evidenced by the Note or payable under any other Loan Documents.
Upon a Full Recourse Event, then the Investors’ rights shall not be limited to pursuing the Collateral or to the specific remedies set forth in Section 8.2.1, but shall, in addition, have the right to exercise remedies against, and pursue any and all assets of, the Company or DSS, and DSS agrees and acknowledges that in such event they are full guarantors of the payment (not collectability) of the Company’s obligations hereunder.
The remedies described in Sections 5.3(a) through 5.3(h) with respect to Agency Agreement Events of Default are subject to the provisions of Section 5.4; provided, as described in Section 5.4, regarding any Full Recourse Event of Default, then in any such case the limitations contained in Section 5.4 shall not apply and the Construction Agent shall be liable for Termination Value.
Each of the Obligor and the Company confirms that no Full Recourse Event (or any event which with the giving of notice.

Full Recourse Event means, collectively, any or all of the following:

Full Recourse Event means:

Full Recourse Event means: (i) The encumbrance of the property encumbered by the Mortgage or any part thereof or interest therein by any consensual lien or encumbrance other than that of the Mortgage, without Lender’s prior written consent; provided, however, that, for purposes of this clause (i), the lien or encumbrance of general property taxes or special assessments or of persons supplying labor or materials to or in connection with said property shall not be deemed to be consensual in nature; or (ii) The sale (by contract or otherwise), conveyance or other transfer of the property encumbered by the Mortgage or any part thereof or interest therein, without Lender’s prior written consent; or (iii) The filing of any bankruptcy or insolvency proceeding by Borrower. This is a guaranty of payment, not of collection. If the amount outstanding under the Loan or any other moneys due or which may become due under the Note or any of the other Loan Documents is determined by a court of competent jurisdiction, that determination shall be conclusive and binding on Guarantor, regardless of whether Guarantor was a party to the proceeding in which such determination was made or not.

Full Recourse Event means the occurrence of any of the following events:

Full Recourse Event means (a) any fraudulent act or omission or illegal acts or willful misconduct of the Construction Agent or any Guarantor in connection with the (i) the negotiation, execution, delivery, consummation and/or performance hereof or of any Operative Document; or (ii) the acquisition, construction or operation of the Equipment (or the construction in progress with respect thereto); (b) the misapplication of any Advance or any portion thereof or any other funds made available to the Construction Agent, any Guarantor or any of their respective Affiliates; or (c) an insolvency or bankruptcy event affecting the Construction Agent or Lessee.

Full Recourse Event shall have the meaning set forth in Section 9.3.

Full Recourse Event means any Debtor Full Recourse Event, any Corporate Full Recourse Event and any Receivable Full Recourse Event;