Common use of Non-Recourse Indebtedness Clause in Contracts

Non-Recourse Indebtedness. Indebtedness of a Person for borrowed money (other than construction completion guaranties with respect to Development Properties) in respect of which recourse for payment (except for Non-Recourse Exclusions until a claim is made with respect thereto, and then such Indebtedness shall not constitute “Non-Recourse Indebtedness” only to the extent of the amount of such claim) is contractually and solely limited to specific assets of such Person encumbered by a Lien securing such Indebtedness and is not a general obligation of such Person. Notes. Collectively, the Revolving Credit Notes and the Swing Loan Note. Notice. See §19.

Non-Recourse Indebtedness. With respect to a Person, (a) Indebtedness of a Person for borrowed money (other than construction completion guaranties with respect to Development Properties) in respect of which recourse for payment (except for Non-Recourse Exclusions until a claim is made with respect thereto, and then such Indebtedness shall not constitute “Non-Recourse Indebtedness” Indebtedness only to the extent of the amount of such claim) is contractually and solely limited to specific assets of such Person encumbered by a Lien securing such Indebtedness and or (b) if such Person is not a general obligation Single Asset Entity, any Indebtedness solely of such Person. Notes. Collectively, the Revolving Credit Notes and the Swing Loan Note. Notice. See §19.

Non-Recourse Indebtedness. With respect to a Person, (a) Indebtedness of a Person for borrowed money (other than construction completion guaranties with respect to Development Properties) in respect of which recourse for payment (except for Non-Recourse Exclusions until a claim is made with respect thereto, and then such Indebtedness shall not constitute “Non-Recourse Indebtedness” Indebtedness only to the extent of the amount of such claim) is contractually and solely limited to specific assets of such Person encumbered by a Lien securing such Indebtedness and or (b) if such Person is not a general obligation Single Asset Entity, any Indebtedness solely of such Person (except for guarantees of Non-Recourse Exclusions by another Person). Notes. Collectively, the Revolving Credit Notes and the Swing Loan Note. Notice. See §19.

Non-Recourse Indebtedness. With respect to a Person, (a) Indebtedness of a Person for borrowed money (other than construction completion guaranties with respect to Development Properties) in respect of which recourse for payment (except for Non-Recourse Exclusions until a claim is made with respect thereto, and then such Indebtedness shall not constitute “Non-Recourse Indebtedness” Indebtedness only to the extent of the amount of such claim) is contractually and solely limited to specific assets of such Person encumbered by a Lien securing such Indebtedness and or (b) if such Person is not a general obligation Single Asset Entity, any Indebtedness solely of such Person (except for guarantees of Non-Recourse Exclusions by another Person). Notes. Collectively, the Revolving Credit Notes and the Swing Loan Note. Notice. See §19.

Non-Recourse Indebtedness. With respect to a Person, (a) Indebtedness of a Person for borrowed money (other than construction completion guaranties with respect to Development Properties) in respect of which recourse for payment (except for Non-Recourse Exclusions until a claim is made with respect thereto, and then such Indebtedness shall not constitute “Non-Recourse Indebtedness” Indebtedness only to the extent of the amount of such claim) is contractually and solely limited to specific assets of such Person encumbered by a Lien securing such Indebtedness and or (b) if such Person is not a general obligation Single Asset Entity, any Indebtedness of such Person. Notes. Collectively, the Revolving Credit Notes and the Swing Loan Note. Notice. See §19.

Non-Recourse Indebtedness. With respect to a Person, (a) Indebtedness of a Person for borrowed money (other than construction completion guaranties with respect to Development Properties) in respect of which recourse for payment (except for Non-Recourse Exclusions until a claim is made with respect thereto, and then such Indebtedness shall not constitute “Non-Recourse Indebtedness” Indebtedness only to the extent of the amount of such claim) is contractually and solely limited to specific assets of such Person encumbered by a Lien securing such Indebtedness and or (b) if such Person is not a general obligation Single Asset Entity, any Indebtedness solely of such Person. Notes. Collectively, the Revolving Credit Notes and the Swing The Term Loan NoteNotes. Notice. See §19.

Non-Recourse Indebtedness. With respect to a Person, (a) Indebtedness of a Person for borrowed money (other than construction completion guaranties with respect to Development Properties) in respect of which recourse for payment (except for Non-Recourse Non‑Recourse Exclusions until a claim is made with respect thereto, and then such Indebtedness shall not constitute “Non-Recourse Indebtedness” Non‑Recourse Indebtedness only to the extent of the amount of such claim) is contractually and solely limited to specific assets of such Person encumbered by a Lien securing such Indebtedness and or (b) if such Person is not a general obligation Single Asset Entity, any Indebtedness solely of such Person. Notes. Collectively, the Revolving Credit Notes and the Swing Loan Note. Notice. See §19.