Limited Recourse Obligations definition
Examples of Limited Recourse Obligations in a sentence
The Limited Recourse Obligations Guaranty is the legally valid and binding obligation of the Limited Recourse Obligations Guarantor, enforceable against the Limited Recourse Obligations Guarantor in accordance with its terms, except as enforcement may be limited by bankruptcy, insolvency, reorganization, moratorium or similar laws relating to or limiting creditors' rights generally.
In addition to its Limited Recourse Obligations, Trans Leasing hereby agrees to pay all reasonable costs and expenses, including, without limitation, reasonable attorneys' fees, reasonably paid or incurred by Lender in collecting or enforcing any or all of the Limited Recourse Obligations or in connection with the enforcement of this Limited Recourse Agreement and in which Lender is the prevailing party.
Such amounts and all other obligations and covenants to be performed by Trans Leasing under this Limited Recourse Agreement shall hereinafter from time to time be collectively referred to as the "Limited Recourse Obligations".
The execution, delivery and performance by Borrower, its general partners, Limited Recourse Obligations Guarantor and Completion Guarantor of each applicable Loan Document and the Environmental Indemnity does not and will not require any registration with, consent or approval of, or notice to, or other action to, with or by, any Governmental Agency or other Person.
Borrower's or Limited Recourse Obligations Guarantor's failure to pay any principal, interest or other monies due under this Agreement or any of the other Loan Documents within ten (10) days after such amount is due, provided that not more than once in any calendar year Borrower shall be entitled to written notice of such failure before the calculation of such ten (10) day period.
Borrower's, Completion Guarantor's or Limited Recourse Obligations Guarantor's failure to pay any principal, interest or other monies due under this Agreement or any of the other Loan Documents within ten (10) days after such amount is due.
The execution, delivery and performance by Borrower, its sole member, manager and Limited Recourse Obligations Guarantor of each applicable Loan Document and the Environmental Indemnity does not and will not require any registration with, consent or approval of, or notice to, or other action to, with or by, any Governmental Agency or other Person.
The execution, delivery and performance of the Loan Documents and the Environmental Indemnity and the issuance, delivery and payment of the Note have been duly authorized by all necessary action of Borrower, its general partners, Aspect Communications, Limited Recourse Obligations Guarantor and Completion Guarantor.
In no event, however, shall the aggregate amount of the REIT Related Limited Recourse Obligations and the TRS Related Limited Recourse Obligations for the Sellers, on a combined basis, exceed 10% of the greater of (i) the total principal amount of Notes then outstanding under the Note Purchase Agreement plus the aggregate outstanding principal balance of all TRS Mortgage Loans sold to UBS and (ii) the Facility Limit.
The execution, delivery and performance of the Loan Documents and the Environmental Indemnity and the issuance, delivery and payment of the Note have been duly authorized by all necessary action of Borrower, its sole member, manager and Limited Recourse Obligations Guarantor.