Full Recourse Event means any of those events or circumstances described in clause (h) of the definition of “Recourse Liability Events” in this Section 1.1.
Full Recourse Event has the meaning provided in Section 8.14.
Full Recourse Event means any of the following: (a) a filing by Borrower of a bankruptcy petition or involuntary placement of Borrower into bankruptcy by Guarantor or an accountant, attorney or other representative of Guarantor, (b) making by Borrower of an assignment for the benefit of creditors, (c) the appointment of a receiver of any property of Borrower in any action initiated by, or consented to, by Guarantor, or (d) any change of Control of the Borrower or Guarantor prohibited under the terms of the Loan Agreement or any Loan Document.
Examples of Full Recourse Event in a sentence
Guarantor hereby absolutely and unconditionally guarantees to Lender the full and prompt payment and performance when due, whether at maturity or earlier by reason of acceleration or otherwise, of (I) all Carve-Out Liabilities and all Collection Costs and (ii) following the occurrence of any Full Recourse Event, 100% of Borrower’s obligations to Lender, including all principal, interest and all other amounts payable by Borrower under the Credit limit Documents.
More Definitions of Full Recourse Event
Full Recourse Event means, collectively, any or all of the following:
Full Recourse Event means:
Full Recourse Event shall have the meaning set forth in Section 9.3.
Full Recourse Event means (a) any fraudulent act or omission or illegal acts or willful misconduct of the Construction Agent or any Guarantor in connection with the (i) the negotiation, execution, delivery, consummation and/or performance hereof or of any Operative Document; or (ii) the acquisition, construction or operation of the Equipment (or the construction in progress with respect thereto); (b) the misapplication of any Advance or any portion thereof or any other funds made available to the Construction Agent, any Guarantor or any of their respective Affiliates; or (c) an insolvency or bankruptcy event affecting the Construction Agent or Lessee.
Full Recourse Event means: (i) The encumbrance of the property encumbered by the Mortgage or any part thereof or interest therein by any consensual lien or encumbrance other than that of the Mortgage, without Lender’s prior written consent; provided, however, that, for purposes of this clause (i), the lien or encumbrance of general property taxes or special assessments or of persons supplying labor or materials to or in connection with said property shall not be deemed to be consensual in nature; or (ii) The sale (by contract or otherwise), conveyance or other transfer of the property encumbered by the Mortgage or any part thereof or interest therein, without Lender’s prior written consent; or (iii) The filing of any bankruptcy or insolvency proceeding by Borrower. This is a guaranty of payment, not of collection. If the amount outstanding under the Loan or any other moneys due or which may become due under the Note or any of the other Loan Documents is determined by a court of competent jurisdiction, that determination shall be conclusive and binding on Guarantor, regardless of whether Guarantor was a party to the proceeding in which such determination was made or not. 2. Acknowledgements.
Full Recourse Event means (i) a Company Event of Default caused by or resulting from (A) a Company Event of Default described in Section 11(i) of the Participation Agreement with respect to the Company, (B) fraud, misapplication of funds or illegal acts on the part of any Construction Agency Person or (C) willful misconduct on the part of any Construction Agency Person, including any willful breach by any Construction Agency Person of any of its obligations, covenants, representations or warranties under any Operative Document, any Project Document or any Governmental Action or (ii) a Company Event of Default in existence after the date of a Recourse Notification.
Full Recourse Event shall have the meaning assigned to such term in the Construction Agency Agreement.