Limited Recourse Obligation definition

Limited Recourse Obligation means any obligation of the Company or any of its Subsidiaries with respect to which a portion, but not all, of the Company's or such Subsidiary's liability thereunder constitutes a Non-Recourse Obligation.
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Limited Recourse Obligation. Any indebtedness, obligation or liability of the Company or of any Subsidiary for the payment of which the obligee thereof is expressly limited to the income, proceeds or value of a specific asset or group of assets.
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Limited Recourse Obligation means that an obligation that is a non-recourse obligation of Borrower, subject only to the Non-Recourse Exceptions.
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Examples of Limited Recourse Obligation in a sentence

  • In the event that any Loan Party is required to make a payment or contribution in connection with any Limited Recourse Obligation and after giving effect to any such payment or contribution on a Pro Forma Basis, (i) the Loan Parties shall fail to be in compliance with each of the financial covenants set forth in Section 7.11 or (ii) a Borrowing Base Deficiency shall exist.

  • Also referred to as the "Limited Recourse Obligation" or "Security." LRO Payments As defined in Section 2(a) below, and subject to adjustment as set forth below.

  • In the event that MortgageIT Holdings does not honor in full any such claim relating to a REIT Related Limited Recourse Obligation within such one (1) Business Day period, or in the event that MortgageIT does not honor in full any such claim relating to a TRS Related Limited Recourse Obligation within such one (1) Business Day period, then the other Seller shall have the obligation to honor such obligation within one Business Day.

  • If any Obligation is not paid when due under the applicable Operative Document (including the failure to pay any AHYDO Payment (regardless of whether sufficient amounts are in the Collection Account to make such payments), but excluding the failure to pay any other Limited Recourse Obligation when due), the amount thereof shall accrue interest at a rate equal to the Default Rate (without duplication of interest payable at the Default Rate).