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Recourse to Assets Sample Clauses

Recourse to Assets. Loans made to any Borrower shall be repaid solely from the assets of such Borrower, and a Lender shall have no right of recourse or offset against the assets of any other Fund with respect to such Loans or any default in respect thereto. Each Lender’s liability under this Master Agreement with respect to a Loan shall be solely limited to the Lender’s assets and each Borrower hereby waives any and all rights it may have against any other Funds with respect to such Loan or any default by Lender with respect thereto.
Sample 1Sample 2Sample 3See All (73)
Recourse to Assets. Loans made to any Portfolio shall be repaid solely from the assets of such Portfolio, and a Lender shall have no right of recourse or offset against the assets of any other Portfolio with respect to such Loans or any default in respect thereto. Each Lender's liability under this Agreement with respect to a Loan shall be solely limited to the Lender's assets and each Borrower hereby waives any and all rights it may have against any other Portfolios with respect to such Loan or any default by Lender with respect thereto.
Sample 1Sample 2Sample 3See All (19)
Recourse to Assets. Loans made to each Borrower shall be paid solely to the account of such Borrower and used by such Borrower solely in accordance with SECTION 5.10. The obligations of each Borrower under this Agreement and the other Loan Documents are several and not joint. The principal amount of the Loans made to a particular Borrower and accrued interest thereon, and any fees or additional amounts payable in connection with or relating to such Loans pursuant to this Agreement, including, without limitation, SECTIONS 2.07, 8.01, and 9.03, shall be paid or repaid solely from the assets of such Borrower only, and Lenders shall have no right of recourse or offset against the assets of any other Borrower with respect to such Loans or such other obligations or amounts, or on account of any default in respect thereto.
Sample 1Sample 2Sample 3See All (11)
Recourse to Assets. The Members shall look solely to the assets of the Company for the return of their Capital Contributions or returns thereon, including, without limitation, any preferential amounts. If the assets remaining after the payment or discharge of the debts and liabilities of the Company are insufficient to return a Member's Capital Contributions or returns thereon, including, without limitation, any preferential amounts, such Member shall have no recourse against the Company, the other Members, or the officers, if any.
Sample 1
Recourse to Assets. Interfund Loans made to any Borrowing Fund shall be repaid solely from the assets of such Borrowing Fund, and a Lending Fund shall have no right of recourse or offset against the assets of any other Fund with respect to such Interfund Loans or any default in respect thereto. Each Lending Fund’s obligation under this Master Agreement with respect to an Interfund Loan shall be solely limited to the Lending Fund’s assets and each Borrowing Fund hereby waives any and all rights it may have against any other Funds with respect to such Interfund Loan or any default by a Lending Fund with respect thereto.
Sample 1
Recourse to Assets. 9 ARTICLE III CONDITIONS SECTION 3.01 Effectiveness.......................................................... 9 3.02 All Borrowings......................................................... 10
Sample 1
Recourse to Assets. Loans made to Customer hereunder for use by a Fund shall be paid solely to the account of that Fund, and used by that Fund, solely in accordance with Section 4(i) hereof. The obligations of Customer on behalf of each of the Funds under this Agreement and the Related Documents are several and not joint. The principal amount of the Loans made for use by a particular Fund and accrued interest thereon and any fees or additional amounts payable in connection with or relating to such Loans pursuant to this Agreement, shall be paid or repaid solely from the assets of such Fund, and Lender shall have no right of recourse or offset against the assets of any other Fund with respect to such Loans or such other obligations or amounts, or any default in respect thereto.
Sample 1
Recourse to Assets. The Members shall look solely to the assets of the Company for any profits or return of their capital contributions. If the assets remaining after the payment or discharge of the debts and liabilities of the Company are insufficient to return a Member's capital contributions or profits, the Member shall have no recourse against the Company or the other Members.
Sample 1
Recourse to Assets. The Share Holders shall look solely to the assets of the Company for any profits or return of their capital contributions. If the assets remaining after the payment or discharge of the debts and liabilities of the Company are insufficient to return a Share Holder's capital contributions or profits, the Share Holder shall have no recourse against the Company or the other Share Holders.
Sample 1

Related to Recourse to Assets

  • Non-Recourse Indebtedness Indebtedness of REIT Guarantor, Borrower, their respective Subsidiaries, or an Unconsolidated Affiliate of any such Person, which is secured by one or more parcels of Real Estate (other than an Unencumbered Property) or interests therein or equipment and which is not a general obligation of Guarantor, Borrower or such Subsidiary or Unconsolidated Affiliate, the holder of such Indebtedness having recourse solely to the parcels of Real Estate, or interests therein, securing such Indebtedness or the direct owner of such Real Estate, the leases thereon and the rents, profits and equity thereof or equipment, as applicable (except for recourse against the general credit of the Person obligated thereon for any Non-Recourse Exclusions), provided that in calculating the amount of Non-Recourse Indebtedness at any time, the Borrower’s reasonable estimate of the amount of any Non-Recourse Exclusions which are the subject of a claim and action shall not be included in the Non-Recourse Indebtedness but shall constitute Recourse Indebtedness. Non-Recourse Indebtedness shall also include Indebtedness of a Subsidiary of Guarantor or Borrower that is not a Subsidiary Guarantor or of an Unconsolidated Affiliate which is a special purpose entity that is recourse solely to such Subsidiary or Unconsolidated Affiliate, which is not cross-defaulted to other Indebtedness of the Borrower and which does not constitute Indebtedness of any other Person (other than such Subsidiary or Unconsolidated Affiliate which is the borrower thereunder). Notes. Collectively, the Revolving Credit Notes, Swing Notes and Term Notes.

  • Title to Assets; Real Property (a) The Target Company has good and valid (and, in the case of owned Real Property, good and marketable fee simple, or if the Real Property is located outside the United States of America, full and irrevocable) title to, or a valid leasehold interest in, all Real Property and personal property and other assets reflected in the Annual Financial Statements or acquired after the Balance Sheet Date, other than properties and assets sold or otherwise disposed of in the ordinary course of business consistent with past practice since the Balance Sheet Date. All such properties and assets (including leasehold interests) are free and clear of Encumbrances except for the following (collectively referred to as “Permitted Encumbrances”): (i) those items set forth in Section 3.10(a) of the Disclosure Schedules; (ii) liens for Taxes not yet due and payable; (iii) mechanics, carriers’, workmen’s, repairmen’s or other like liens arising or incurred in the ordinary course of business consistent with past practice or amounts that are not delinquent, and which are not, individually or in the aggregate, material to the business of the Target Company; (iv) easements, rights of way, zoning ordinances and other similar encumbrances affecting Real Property which are not, individually or in the aggregate, material to the business of the Target Company; or (v) other than with respect to owned Real Property, liens arising under original purchase price conditional sales contracts and equipment leases with third parties entered into in the ordinary course of business consistent with past practice which are not, individually or in the aggregate, material to the business of the Target Company. (b) Section 3.10(b) of the Disclosure Schedules lists (i) the street address of each parcel of Real Property; (ii) if such property is leased or subleased by the Target Company, the landlord under the lease, the rental amount currently being paid, and the expiration of the term of such lease or sublease for each leased or subleased property; and (iii) the current use of such property. With respect to owned Real Property, the Target Company has delivered or made available to Holdings true, complete and correct copies of the deeds and other instruments (as recorded) by which the Target Company acquired such Real Property, and copies of all title insurance policies, opinions, abstracts and surveys in the possession of the Target Company and relating to the Real Property. With respect to leased Real Property, the Target Company has delivered or made available to Holdings true, complete and correct copies of any leases affecting the Real Property. The Target Company is not a sublessor or grantor under any sublease or other instrument granting to any other Person any right to the possession, lease, occupancy or enjoyment of any leased Real Property. The use and operation of the Real Property in the conduct of the Target Company’s business do not violate in any material respect any Law, covenant, condition, restriction, easement, license, permit or agreement. No material improvements constituting a part of the Real Property encroach on real property owned or leased by a Person other than the Target Company. There are no Actions pending nor, to the Target Company’s Knowledge, threatened against or affecting the Real Property or any portion thereof or interest therein in the nature or in lieu of condemnation or eminent domain proceedings.

  • Recourse This Agreement is made with full recourse to the Pledgors and pursuant to and upon all the representations, warranties, covenants and agreements on the part of the Pledgors contained herein and in the other Secured Debt Agreements and otherwise in writing in connection herewith or therewith.

  • Title to Assets The Company and the Subsidiaries have good and marketable title in fee simple to all real property owned by them and good and marketable title in all personal property owned by them that is material to the business of the Company and the Subsidiaries, in each case free and clear of all Liens, except for (i) Liens as do not materially affect the value of such property and do not materially interfere with the use made and proposed to be made of such property by the Company and the Subsidiaries and (ii) Liens for the payment of federal, state or other taxes, for which appropriate reserves have been made therefor in accordance with GAAP and, the payment of which is neither delinquent nor subject to penalties. Any real property and facilities held under lease by the Company and the Subsidiaries are held by them under valid, subsisting and enforceable leases with which the Company and the Subsidiaries are in compliance.

  • Title to Assets; No Encumbrances Each of the Loan Parties and its Subsidiaries has (a) good, sufficient and legal title to (in the case of fee interests in Real Property), (b) valid leasehold interests in (in the case of leasehold interests in real or personal property), and (c) good and marketable title to (in the case of all other personal property), all of their respective assets reflected in their most recent financial statements delivered pursuant to Section 5.1, in each case except for assets disposed of since the date of such financial statements to the extent permitted hereby. All of such assets are free and clear of Liens except for Permitted Liens.

Most Referenced Clauses

Most Referenced Definitions