Recourse Debt. The Loan Parties shall cause the aggregate principal amount of all Recourse Debt (other than Indebtedness pursuant to the Loan Documents) as of the last day of each Fiscal Quarter to be less than or equal to ten percent (10%) of the Consolidated Total Asset Value.
Recourse Debt. Items of deduction and loss attributable to “recourse debt” within the meaning of Treasury Regulations section 1.752-1 (but excluding “partner nonrecourse debt” as defined in Section 7.1(b)(v) hereof), will be allocated to the Members bearing the economic risk of loss with respect to such debt.
Recourse Debt. (i) As of any date, the Companies, individually or on a consolidated basis, to incur, guaranty, or otherwise be or become, directly or indirectly, liable in respect of any Recourse Debt (other than Permitted Recourse Debt).
Recourse Debt. Permit the aggregate of all outstanding recourse Indebtedness, whether secured or unsecured, including all Indebtedness hereunder and under the Related Facilities and any other recourse Indebtedness, as of any date, to exceed (a) 45% of then-current Gross Asset Value through December 31, 2006 or (b) 40% of then-current Gross Asset Value at any time after December 31, 2006.
Recourse Debt. Permit any Recourse Debt (excluding the Obligations hereunder) of Borrower or any member of the Consolidated Group, unless approved by Administrative Agent in its sole discretion. For the avoidance of doubt, Parent Guarantor and Borrower shall provide a calculation of each of the above financial covenants, other than Minimum Tangible Net Worth, on a quarterly basis as required by Section 9.02(a), notwithstanding the required compliance periods described above.
Recourse Debt. Recourse Debt" of Palace shall mean any liability (or portion thereof of Palace that is neither a Nonrecourse Liability nor a Member Risk Nonrecourse Debt. It is understood that, as a general matter, any liability that, by its own terms, is recourse to Palace or any Member (or Related Person to such Member) is a "Recourse Debt"; provided, however, that any such liability that is owed to a Member (or Related Person to such Member) is a "Member Risk Nonrecourse Debt" rather than a "Recourse Debt" to the extent that no other Member (or Related Person to such other Member) bears the Economic Risk of Loss for such liability.
Recourse Debt. Borrower shall not, and shall not permit any of its Consolidated Affiliates to, as of any date during the term hereof, create, incur, or suffer to exist any Recourse Debt, other than:
Recourse Debt. (a) Immediately prior to the Closing, Spectra MLP shall borrow an amount equal to the Cash Distribution under indebtedness that constitutes an MLP GP Recourse Liability in a manner such that the proceeds of such borrowing are allocable to the Cash Distribution pursuant to Treasury Regulation Section 1.707-5(b)(1) and Temporary Treasury Regulation 1.163-8T (such borrowing, and any “refinancing” of such borrowing treated as the liability it refinances pursuant to Treasury Regulation Section 1.707-5(c), the “Transaction Debt”, and together with all other indebtedness of Spectra MLP that constitutes an MLP GP Recourse Liability, the “Spectra MLP Debt”).
Recourse Debt. (a) Trustor shall be liable upon the indebtedness evidenced by the Notes, for all sums to accrue or to become payable thereunder, and for performance of any covenants contained in any of the Loan Documents to the extent, but only the extent, of Beneficiary's security for the same, including, without limitation, all properties, rights, estates, and interests covered by the this Indenture and the Loan Documents. No attachment, execution or other writ of process shall be sought, issued or levied upon any assets, properties or funds of Trustor other than the properties, rights, estates and interest described in this Indenture and the other Loan Documents. In the event of foreclosure of such title, liens, mortgages or security interests, by private power of sale or otherwise, no judgment for any deficiency upon such indebtedness, sums and amounts shall be sought or obtained by Beneficiary or Trustee against Trustor.
Recourse Debt. 35 8.4 Transactions with Affiliates.................................................. 35 8.5 Compliance with Laws and Documents............................................ 36 8.6 Loans, Advances and Investments............................................... 36 8.7
