Limited Recourse definition
Limited Recourse means a letter of credit, revolving loan commitment, cash collateral account, guarantee or other credit enhancement issued by the Issuer or any of its Restricted Subsidiaries (other than a Receivables Subsidiary) in connection with the incurrence of Indebtedness by a Receivables Subsidiary under a Qualified Receivables Financing; provided that, the aggregate amount of such letter of credit reimbursement obligations and the aggregate available amount of such revolving loan commitments, cash collateral accounts, guarantees or other such credit enhancements of the Issuer and its Restricted Subsidiaries (other than a Receivables Subsidiary) shall not exceed 25% of the principal amount of such Indebtedness at any time.
Limited Recourse means a letter of credit, revolving loan commitment, cash collateral account, guarantee or other credit enhancement issued by the Company, a Permitted Affiliate Parent or any Restricted Subsidiary (other than a Receivables Entity) in connection with the incurrence of Indebtedness by a Receivables Entity under a Qualified Receivables Transaction; provided that, the aggregate amount of such letter of credit reimbursement obligations and the aggregate available amount of such revolving loan commitments, cash collateral accounts, guarantees or other such credit enhancements of the Company, any Permitted Affiliate Parent and the Restricted Subsidiaries (other than a Receivables Entity) shall not exceed 25% of the principal amount of such Indebtedness at any time.
Limited Recourse. Each of the parties hereto agrees that:
(a) in relation to the Mortgages Trustee, any amount payable by the Mortgages Trustee to any other party to this Agreement under this Agreement not being an amount payable out of the Trust Property in accordance with the terms of the Mortgages Trust Deed shall only be payable to the extent that on that date the Mortgages Trustee has sufficient funds to pay such amount out of fees paid to it under the Mortgages Trust Deed; and
Examples of Limited Recourse in a sentence
In the event of any conflict between the provisions of the Common Terms and the provisions of this Agreement, the provisions of this Agreement shall prevail, subject always to compliance with clause 10 (Non-Petition and Limited Recourse) of the Common Terms.
In the event of any conflict between the provisions of the Common Terms and the provisions of this Agreement, the provisions of this Agreement shall prevail, subject always to compliance with Clause 10 (Non-Petition and Limited Recourse) of the Common Terms.
These Issue Specific Terms comprise the Issue Specific Terms required for the issue of the Notes by Codeis Securities S.A. pursuant to its €100,000,000,000 Limited Recourse Notes Programme.
The provisions of section 8.13 (Limited Recourse) of the Security Agreement shall apply mutatis mutandis to this Charge as if written out in full herein.
The Administrative Agent shall have received fully executed (subject, with respect to all Credit Parties other than Lux Borrower, U.S. Borrower and its Restricted Subsidiaries, to Section 3.1(r)) copies of this Agreement, the Notes to be delivered on the Closing Date (if any), the Pledge and Security Agreement, the Limited Recourse Pledge and Security Agreement, each Intellectual Property Security Agreement and, subject to Section 3.1(r), each Closing Date Foreign Collateral Document.
More Definitions of Limited Recourse
Limited Recourse. Notwithstanding anything to the contrary contained herein but without limiting the Counterparty's rights under Section 5(a)(i) of the Primary ISDA Agreement, all of the obligations of the Trust shall be payable by the Trust only at the times and to the extent of funds available therefor under the Trust Sale and Administration Agreement and, to the extent such funds are not available or are insufficient for the payment thereof, shall not constitute a claim against the Trust to the extent of such unavailability or insufficiency until such time as, and then to the extent that, the Trust has assets sufficient to pay such prior deficiency. This paragraph shall survive the termination of this Agreement but in all cases shall expire one year and one day after the final payment with respect to all notes and certificates issued by the Trust.
Limited Recourse means a letter of credit, revolving loan commitment, cash collateral account, guarantee or other credit enhancement issued by the Company, the Affiliate Issuer or any Restricted Subsidiary (other than a Receivables Entity) in connection with the Incurrence of Indebtedness by a Receivables Entity under a Qualified Receivables Transaction; provided that, the aggregate amount of such letter of credit reimbursement obligations and the aggregate available amount of such revolving loan commitments, cash collateral accounts, guarantees or other such credit enhancements of the Company, the Affiliate Issuer and the Restricted Subsidiaries (other than a Receivables Entity) shall not exceed 25% of the principal amount of such Indebtedness at any time.
Limited Recourse. The Cash Manager hereby undertakes to each of the other parties hereto that, notwithstanding any other provision of this Agreement or any other Transaction Document, no sum due or owing to the Cash Manager from or by Funding or the Mortgages Trustee under this Agreement shall be payable by Funding or the Mortgages Trustee except to the extent that Funding or the Mortgages Trustee, as applicable, has sufficient funds available subject to the applicable Funding Priority of Payments set out in the Funding Deed of Charge or the applicable Priority of Payments for the Mortgages Trustee under the Mortgages Trust Deed, as the case may be, or, following enforcement of the Funding Security the Security Trustee has realised sufficient funds from the Funding Security to pay such sum subject to and in accordance with the relevant Funding Priority of Payments, and provided that all liabilities of Funding or the Mortgages Trustee required to be paid in priority thereto or pari passu therewith pursuant to the applicable Funding Priority of Payments set out in the Funding Deed of Charge or the applicable Priority of Payments for the Mortgages Trustee under the Mortgages Trust Deed, as the case may be, have been paid, discharged and/or otherwise provided for in full.
Limited Recourse means that the assignment to Company is conditioned on the Purchaser's performance of the Contract for the time and/or on the terms indicated in the assignment section of the Contract. If the Purchaser fails to perform a Contract on a "limited recourse" basis for the time and/or on the terms indicated in the assignment section of the Contract, Company at any time may require Dealer to repurchase the Contract for the amount then owing. After the Purchaser has met the terms indicated in the assignment section of the Contract, an assignment on a "limited recourse" basis shall be treated as an assignment on a "without recourse" basis. Notwithstanding any provision of this Agreement, or any assigned Contract to the contrary, the warranty and breach provisions of this Agreement and the assigned Contract shall control over the terms of assignment.
Limited Recourse means, with respect to any Joint Venture or Project Subsidiary and the Indebtedness and other obligations of such Joint Venture or such Project Subsidiary:
Limited Recourse means, in relation to a borrower, that, if that borrower defaults in the repayment of a debt of that borrower, the relevant lender(s) may only have recourse to certain assets of that borrower when claiming, or instituting proceedings, for the repayment of that debt and, where applicable, interest thereon;
Limited Recourse means that all liabilities or obligations of Pawnee related to this Management Agreement, the Operating Note, any Transaction Documents, the Project Facilities, or the Project contemplated by this Management Agreement, and any related awards, judgments or decrees, shall be payable solely out of the undistributed and future Net Total Revenues of the Project, and shall be a limited recourse obligation of Pawnee, with no recourse to any of Pawnee's assets other than such undistributed and future Net Total Revenues of the Project (except as to: (i) a security interest in the Furnishings and Equipment, (ii) the security interest in the Gross Total Revenues pursuant to the Dominion Account Agreement, (iii) as to any mortgages or deeds of trust on fee lands upon which the Project is located, and (iv) as permitted under Section 10.3(d) herein and by Paragraph 5(c) of the Resolution of Limited Waiver attached hereto as Exhibit B). In no event, except as permitted under Section 10.3(d) herein and by Paragraph 5(c) of the Resolution of Limited Waiver attached hereto as Exhibit B), shall Lakes have recourse to (a) the physical property of the Project Facilities (other than Furnishings and Equipment and to any mortgages or deeds of trust on fee lands upon which the Project is located subject to the security interest securing the Operating Note), (b) Net Total Revenue distributions already received by Pawnee from the Project and made to the Pawnee TDC in accordance with this Management Agreement and/or the Dominion Account Agreement, (c) assets of the Pawnee TDC purchased with such Net Total Revenue distributions, or (d) any other asset of the Pawnee TDC or Pawnee Nation (other than such undistributed and future Net Total Revenues of the Project, the security interest in the Furnishings and Equipment and any mortgages or deeds of trust on fee lands upon which the Project is located).