Recourse Events definition

Recourse Events. The meaning set forth in Section 9.18 of this Agreement.
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Recourse Events shall have the meaning set forth in Section 9.4(b) hereof.
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Recourse Events means any of the following:
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Examples of Recourse Events in a sentence

  • The 10% limitation on the debt guaranty provided herein is not intended to limit any liability of New Borrower for any Borrower Recourse Liabilities or Springing Recourse Events described in Section 10.1 of the Loan Agreement nor of New Indemnitor under the Guaranteed Obligations as defined in the Amended Guaranty.

  • The Borrowers and Indemnitor shall not remain liable for any liabilities and obligations described in the Loan Documents and Recourse Events described in Section 9.18 first occurring after such transfer; however, Borrowers and Indemnitor shall remain liable for any liabilities and obligations in the Loan Documents including the Recourse Events first occurring prior to such transfer.

  • If Borrower fails at all times during the term of the Mezzanine Loan to cause one or more Guarantors having a combined net worth of not less than Ten Million Dollars ($10,000,000.00) to be obligated and liable for the obligations set forth in the Recourse Events Guaranty and Environmental Indemnity Agreement, and any other failure by Borrower to comply with Section 6.29 of this Agreement.

  • Nothing in this Agreement shall be construed as a waiver on the part of Agent or Lenders of any Defaults, Events of Defaults, Recourse Liability Events and/or Full Recourse Events of Original Guarantor, and Agent and Lenders reserve all rights and remedies against Original Guarantor arising under the Original Recourse Liability Agreement.

  • The occurrences set forth in such subparagraphs (a) through (k) are hereinafter collectively referred to as the "Recourse Events." Notwithstanding the foregoing, the Guaranteed Obligations (as defined below) with respect to the Recourse Events set forth in subparagraphs (a) through (g) herein shall be limited to the amount of all Losses, as defined by the Security Instruments, incurred by Lender due to such occurrences.

  • Borrower shall, at all times during the term of the Mezzanine Loan, cause one or more Guarantors having a combined net worth of not less than Ten Million Dollars ($10,000,000.00) to be obligated and liable for the obligations set forth in the Recourse Events Guaranty and Environmental Indemnity Agreement.

  • Such assumption and responsibility shall occur automatically upon the occurrence of any Full Recourse Event without further action on the part of any Person; provided, however, that Guarantor shall only be liable for Full Recourse Events arising and accruing on or after the date hereof.


More Definitions of Recourse Events

Recourse Events. The meaning set forth in Section 9.18 of this Agreement. Loan Agreement
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Related to Recourse Events

  • Non-Recourse Parties has the meaning provided in Section 12.16.

  • Train Operator Event of Default has the meaning ascribed to it in paragraph 1.1 of Schedule 6;

  • Financial Covenant Event of Default has the meaning specified in Section 8.01(b).

  • Non-recourse Project Financing means any Indebtedness incurred in connection with the financing of all or part of the costs of the acquisition, construction or development of any project, provided that: (i) any Security Interest given by the Bank or the relevant Subsidiary is limited solely to assets of the project; (ii) the Person or Persons providing such financing expressly agrees to limit their recourse to the project financed and the revenues derived from such project as the principal source of repayment for the moneys advanced; and (iii) there is no other recourse to the Bank or the relevant Subsidiary in respect of any default by any Person under the financing; and

  • Customary Recourse Exceptions means, with respect to any Non-Recourse Debt of an Unrestricted Subsidiary, exclusions from the exculpation provisions with respect to such Non-Recourse Debt for the voluntary bankruptcy of such Unrestricted Subsidiary, fraud, misapplication of cash, environmental claims, waste, willful destruction and other circumstances customarily excluded by lenders from exculpation provisions or included in separate indemnification agreements in non-recourse financings.