Recourse Documents definition
Examples of Recourse Documents in a sentence
The Members acknowledge and agree that each Guarantor shall execute and deliver one (1) or more Recourse Documents as an accommodation to the Company and the Members.
Without limiting the provisions of Section 10.3(a), the Guarantors may execute and deliver one (1) or more Recourse Documents pursuant to Section 3.2 that may impose liability upon such Guarantors in connection with any financing or refinancing obtained by the Company or other transactions entered into by the Company.
The Members acknowledge and agree that any Recourse Documents executed by any Guarantor shall be executed only as an accommodation to the Company and/or the Members.
The FP Guarantor shall also have the right to execute any Recourse Documents required for any refinancing of the Acquisition Loan and the Mezzanine Loan (or any other permanent financing obtained by the Company or any Subsidiary) in a form reasonably approved by the FP Guarantor and the RP Member.
An Affiliate of the FP Member (the “FP Guarantor”) shall execute and deliver to the Acquisition Lender any and all “bad-boy” carve-out guaranties and similar documents required by such Acquisition Lender and a title indemnity agreement required by the title companies (collectively, the “Recourse Documents”) provided such Recourse Documents are reasonably approved by the FP Guarantor and the RP Member.
Notwithstanding the foregoing, CHT REIT’s liability under this Agreement shall be fully recourse and is expressly not subject to, or limited by, any limitations on CHT REIT’s liability set forth in the Loan Agreement or in any of the Recourse Documents (as such term is defined in the Loan Agreement), and CHT REIT agrees and acknowledges that Lender is relying upon the full recourse nature of this Agreement in making the Loan to Borrowers.
The Members acknowledge and agree that the FP Guarantor shall execute the Recourse Documents as an accommodation to the Company, the Member Subsidiary, the Campus Subsidiary and the Members.
NYRT and Owner Member acknowledge that neither Comfort Member nor the Comfort Member Guarantors shall be required to be party to that certain Contribution, Reimbursement and Indemnity Agreement (as defined in the A&R LLC Agreement) to be entered into contemporaneously with the A&R LLC Agreement, nor have any obligations with respect to any Recourse Documents (as defined in such Contribution, Reimbursement and Indemnity Agreement).
The Members acknowledge and agree that the FP Guarantor shall execute the New Loan Recourse Documents as an accommodation to the Company, the Member Subsidiary, the Campus Subsidiary and the Members.