Non-Recourse Exceptions definition
Non-Recourse Exceptions shall have the meaning set forth in Section 5.18.
Non-Recourse Exceptions means, with respect to Non-Recourse Indebtedness, exceptions for fraud, misrepresentation, misapplication of cash, waste, environmental claims and liabilities and other circumstances customarily excluded by institutional lenders from exculpation provisions and/or included in separate indemnification agreements in non-recourse financing of real estate.
Non-Recourse Exceptions has the meaning assigned in Section 12.2(1).
Examples of Non-Recourse Exceptions in a sentence
Borrower's liability under the Non-Recourse Exceptions, excepting item (g), shall be limited to the amount of any losses or damages sustained by Lender in connection with such Non-Recourse Exceptions.
Items (a) through (g) above are collectively the "Non-Recourse Exceptions".
To the extent Borrower is a general partnership and Lender is required under applicable law to pursue its remedies against the persons or entities constituting Borrower, each reference to the phrase "(including Borrower)" in the Non-Recourse Exceptions shall be deemed to read "(including Borrower or any person or entity constituting Borrower)".
No. 36 - Non-Recourse Exceptions --------------------------------------------------------------------------- Loan No. - 756156 (Mill Pond Shoppes) ------------------------------------- Explanation -The Mortgage Loan does not have a natural person liable for any of the recourse carve-outs.
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More Definitions of Non-Recourse Exceptions
Non-Recourse Exceptions means, with respect to Non-Recourse Indebtedness, exceptions for fraud, misrepresentation, misapplication of cash, waste, environmental claims and liabilities and other circumstances customarily excluded by institutional lenders from exculpation provisions and/or included in separate indemnification agreements in non-recourse financing of real estate. “Non-Recourse Indebtedness” means any single loan with respect to which recourse for payment is limited to specific assets related to a particular Property or group of Properties encumbered by a Lien securing such Indebtedness; provided, however, that personal recourse to the Parent, the Borrower or any Subsidiary by a holder of any such loan for (i) Non-Recourse Exceptions or (ii) guarantees of completion or obligations to pay carry expense which, in each case with respect to this clause (ii), contain customary terms, shall not, by themselves, prevent such loan from being characterized as Non-Recourse Indebtedness unless and until such obligations are no longer contingent and a claim for payment has been made. “Note” means a Revolving Note or a Term Note. “Notice of Continuation” means a notice substantially in the form of Exhibit D (or such other form reasonably acceptable to the Administrative Agent and containing the information required in such Exhibit) to be delivered to the Administrative Agent pursuant to Section 2.9. evidencing the Borrower’s request for the Continuation of a LIBOR Loan. “Notice of Conversion” means a notice substantially in the form of Exhibit E (or such other form reasonably acceptable to the Administrative Agent and containing the information required in such Exhibit) to be delivered to the Administrative Agent pursuant to Section 2.
Non-Recourse Exceptions. [ ] Yes [ ] N/A To the best knowledge of the Borrower, the Securities Finance Documents for such CMBS or (where the Lender so designates the same) Eligible Other Asset provide that such CMBS or (where the Lender so designates the same) Eligible Other Asset constitutes the limited recourse obligations of the related obligor thereon.
Non-Recourse Exceptions has the meaning set forth in Section 14.5.
Non-Recourse Exceptions means, with respect to Non-Recourse Indebtedness, exceptions for fraud, misrepresentation, misapplication of cash, waste, environmental claims and liabilities and other circumstances customarily excluded by institutional lenders from exculpation provisions and/or included in separate indemnification agreements in non-recourse financing of real estate. “Non-Recourse Indebtedness” means any single loan with respect to which recourse for payment is limited to specific assets related to a particular Property or group of Properties encumbered by a Lien securing such Indebtedness; provided, however, that personal recourse to the Parent, the Borrower or any Subsidiary by a holder of any such loan for Non-Recourse Exceptions shall not, by itself, prevent such loan from being characterized as Non-Recourse Indebtedness. “Note” means a Revolving Note, a Term Note or a Swingline Note.
Non-Recourse Exceptions shall have the meaning set forth in the Note.
Non-Recourse Exceptions has the meaning given to that term in Section 7.14.
Non-Recourse Exceptions means, with respect to Non-Recourse Indebtedness, exceptions for fraud, misrepresentation, misapplication of cash, waste, environmental claims and liabilities and other circumstances customarily excluded by institutional lenders from exculpation provisions and/or included in separate indemnification agreements in non-recourse financing of real estate. “Non-Recourse Indebtedness” means any single loan with respect to which recourse for payment is limited to specific assets related to a particular Property or group of Properties encumbered by a Lien securing such Indebtedness; provided, however, that personal recourse to the Parent, the Borrower or any Subsidiary by a holder of any such loan for (i) Non-Recourse Exceptions or (ii) guarantees of completion or obligations to pay carry expense which, in each case with respect to this - 25 - LEGAL02\42427047.v4