Nonrecourse Carveouts definition

Nonrecourse Carveouts means the personal liability of an obligor under Indebtedness for fraud, misrepresentation, misapplication or misappropriation of cash, waste, environmental liability, bankruptcy filing or any other circumstances customarily excluded from non-recourse provisions and non-recourse financing of real estate.
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Examples of Nonrecourse Carveouts in a sentence

  • No such action by Lender shall release or limit the liability of any Third Party Obligor for the Nonrecourse Carve-Outs, even if the effect of that action is to deprive Third Party Obligors of the right to reimbursement from Borrower for any sums paid by Third Party Obligors to Lender with respect to the Nonrecourse Carve-outs.

  • No such action by Lender shall release or limit the liability of Third Party Obligor for the Nonrecourse Carve-Outs, even if the effect of that action is to deprive Third Party Obligor of the right to reimbursement from Borrower for any sums paid by Third Party Obligor to Lender with respect to the Nonrecourse Carve-outs.

  • Collectively, the Amended and Restated Continuing Guaranty, the Amended and Restated Guaranty of Completion and Interest Reserve and the Amended and Restated Guaranty of Nonrecourse Carveouts each executed by Acadia Strategic Opportunity Fund II, LLC, a Delaware limited liability company (the “Guarantor”) and dated the date hereof in favor of Administrative Agent in connection with the Loan and the Construction Loan; as may be further amended and restated and supplemented from time to time.