Recourse Assets definition

Recourse Assets means any Project Assets other than Protected Assets.

Recourse Assets has the meaning assigned to that term in Section 12.09(c).

Recourse Assets means (a) all real and personal property in which the Borrower or any Guarantor has any right, title or interest, and (b) to the extent not included in clause (a), (i) all assets of the Tribe or any Affiliate of the Tribe used in a Gaming Business, (ii) all cash, Cash Equivalents, receivables and other assets generated by the businesses or assets referred to in clauses (a) and (b)(i) of this definition or constituting proceeds of the Indebtedness incurred pursuant to the Loan Documents or any other Indebtedness of the Loan Parties, and (iii) all proceeds, income and profits from any of the assets referred to in clauses (a) and (b) of this definition; provided, however, that “Recourse Assets” excludes (A) funds or other assets actually distributed to the Tribe in accordance with Section 6.04, (B) any Capital Stock in the Borrower or any of its Subsidiaries, (C) any surveillance equipment, computers or related equipment owned by the Gaming Commission and used in connection with its regulatory responsibilities and (D) any Protected Assets.

Examples of Recourse Assets in a sentence

• If, at the time of such voluntary winding up, the directors of the Issuer are of the reasonable opinion that such costs and expenses would exceed the balance standing to the credit of the Expense Account at such time, an amount sufficient to cover such excess (the “Winding Up Reserve”) shall be deducted from the proceeds of the Recourse Assets and transferred to the Expense Account.

• The Security Holder will have recourse only to the Net Recourse Assets.

• The obligation of the Issuer to make payments in respect of the Security will be limited to such amounts received in respect of the Net Recourse Assets, after payment of all Senior Obligations, and the Security Holder will have no further recourse to the Issuer in respect of its payment obligation under the Security.

• The obligation of the Issuer to make payments in respect of the Securities will be limited to such amounts received in respect of the Net Recourse Assets, after payment of all Senior Obligations, and the Security Holders will have no further recourse to the Issuer in respect of its payment obligation under the Securities.

• The Security Holders will have recourse only to the Net Recourse Assets.

More Definitions of Recourse Assets

Recourse Assets has the meaning ascribed to such term in the definition of Non-Recourse Debt above.

Recourse Assets means entities or properties (i) which are located in Permitted Jurisdictions, and (ii) to which any part of Total Debt, excluding Indebtedness under Subordinated Indebtedness and any other part of Total Debt which is unsecured and not ranking, or capable of ranking, senior to or pari passu with Total Debt, has direct recourse, whether as primary or secondary obligor, contingent or otherwise, secured or unsecured.

Recourse Assets means, at any given point of time, all assets of SEAG or SFHG (as relevant) that are realised (or may become capable of being realised based on the fair value of such assets determined on a solvent liquidation (over 3 years) basis) in a liquidation or winding up of SEAG or SFHG (as relevant) and applied or may become capable of being applied towards discharge of the Liabilities and the liabilities owed to all other creditors of SEAG or SFHG (as relevant) or available for distribution to all creditors of SEAG or SFHG (as relevant) following deduction or payment of the properly incurred costs and/or expenses of such liquidation or winding up (as relevant).

Recourse Assets has the meaning assigned to it in Clause 20.10;

Recourse Assets shall have the meaning set forth in Section 2.2(b) hereof.

Recourse Assets means all now owned or hereafter acquired property of Borrower, the Guarantor or any enterprise, instrumentality or Affiliate of Borrower (whether or not otherwise designated as property of Borrower or such enterprise, instrumentality or Affiliate) which is located at, should be accounted for as an asset of, or used in connection with activities of, any element of the Gaming

Recourse Assets means all now owned or hereafter acquired property of Borrower, the Guarantor or any enterprise, instrumentality or Affiliate of Borrower (whether or not otherwise designated as property of Borrower or such enterprise, instrumentality or Affiliate) which is located at, should be accounted for as an asset of, or used in connection with activities of, any element of the Gaming EXHIBIT D Enterprise, including the revenues therefrom, property arising from the sale or other disposition thereof and all proceeds of any of the foregoing (collectively, “assets of the Gaming Enterprise”).