Recourse Amount definition

Recourse Amount. Has the meaning specified in Section 17.10 of the Participation Agreement.

Recourse Amount means the amount by which the portion of such payment by the Owner Participant on account of clause (ii) above received by the Indenture Trustee exceeds the amount which would have been received by the Indenture Trustee if the Owner Participant had not become subject to the recourse liability referred to in (ii) above. Nothing contained in this Section shall prevent the Indenture Trustee from enforcing any individual obligation (and retaining the proceeds thereof) of the Owner Participant under this Agreement or any other Operative Agreement to the extent herein or therein provided, for which the Owner Participant has expressly agreed by the terms of this Agreement to accept individual responsibility.

Recourse Amount means the amount by which the portion of such payment by the Owner Participant on account of clause (ii) above received by such Noteholder or Indenture Trustee exceeds the amount which would have been received by such Noteholder or the Indenture Trustee if the Owner Participant had not become subject to the recourse liability referred to in (ii) above. Nothing contained in this Section shall prevent any Noteholder or the Indenture Trustee from enforcing any individual obligation (and retaining the proceeds thereof) of the Owner Participant under the Participation Agreement or any other Operative Agreement to the extent therein provided, for which the Owner Participant has expressly agreed by the terms of the Participation Agreement to accept individual responsibility.

Examples of Recourse Amount in a sentence

• The Seller further agrees that it shall promptly deposit or cause to be deposited into the Collection Account, the Dealer Recourse Amount related to any Receivable in satisfaction of any Purchase Amount in respect of such Receivable that is due and which remains unpaid by the Seller.

• For purposes of this Section 17.10, "Recourse Amount" means the amount by which the portion of such payment by the Owner Participant on account of clause (ii) above received by the Indenture Trustee exceeds the amount which would have been received by the Indenture Trustee if the Owner Participant had not become subject to the recourse liability referred to in (ii) above.

• To the extent provided in the Note, Pledgor shall be liable for any deficiency if the remaining proceeds are insufficient to pay the indebtedness under the Note in full, including reasonable the fees of any attorneys employed by the Company to collect such deficiency; provided, however, that at no time shall the Pledgor's personal liability hereunder or under the Note exceed the Aggregate Recourse Amount (as such term is defined in the Note).

• The amount of any such recoveries, up to the Recourse Amount, shall be deposited into the Collection Account within two Business Days of the receipt thereof by the Seller or the Servicer.

• The percentage applicable to the calculation of the Maximum Recourse Amount for the Subject Property is set forth on Schedule III to the Participation Agreement.

More Definitions of Recourse Amount

Recourse Amount means $7,400,000.

Recourse Amount has the meaning set forth in Section 3.04.

Recourse Amount shall have the meaning specified in Section 4.6 of the Loan Agreement.

Recourse Amount means the amount of the Indebtedness of an Unconsolidated Affiliate which is recourse to the Company or another Subsidiary of the Company.

Recourse Amount means as of any time an amount equal to (A) 60% of the --------------- aggregate original principal amount of this Note, minus (B) the aggregate amount of all principal and interest payments made under this Note from the Date of Issuance of this Note through such time, including payments incident to Executive's declaring bankruptcy. Nothing in this paragraph 4, however, shall affect any of the Company's rights under the Pledge Agreement.

Recourse Amount means the amount by which the portion of such payment by the Owner Participant on account of clause (2) above received by the Indenture Trustee or the relevant Holder, as the case may be, exceeds the amount which would have been received by the Indenture Trustee or such Holder, as the case may be, if the Owner Participant had not become subject to the recourse liability referred to in (2) above.

Recourse Amount means, with respect to any Partner, the amount (if any) specified on Exhibit F with respect to a Partner, as such Exhibit F may be amended from time to time.