RECOURSE LIABILITY definition

RECOURSE LIABILITY has the meaning set forth in Regulations Section 1.752-1(a)(1).
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RECOURSE LIABILITY has the meaning set forth in Treasury Regulations Section 1.752-1(a)(1).
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RECOURSE LIABILITY and “Recourse Liabilities” have the meaning provided in Section 8.14.
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Examples of RECOURSE LIABILITY in a sentence

  • Recourse Liability shall be allocated to Members in accordance with Treasury Regulations Section 1.704-2(i)(4).

  • At or prior to the Closing, the Partnership will have sufficient funds to pay the Cash Distribution to PBF Energy at the Closing, the Borrowed Funds Distribution portion of which shall be sourced by the Partnership solely from debt proceeds under indebtedness that constitutes a PBF Recourse Liability.

  • At or prior to the Closing, Spectra MLP will have sufficient funds to pay the Cash Distribution to MLP GP at the Closing, which distribution shall be sourced by Spectra MLP solely from debt proceeds under indebtedness that constitutes an MLP GP Recourse Liability.

  • If any lender will not agree to release the Offeree’s Recourse Liability, then the Offeror shall protect, defend, indemnify, and hold such Offeree and its Affiliates, officers, directors, agents, shareholders, partners, beneficiaries, and trustees harmless from any manner of loss, claim, damage, or expense arising out of or relating to the Offeree’s Recourse Liability from and after the Closing Date.


More Definitions of RECOURSE LIABILITY

RECOURSE LIABILITY means a Company Liability to the extent any Member bears the economic risk of loss for that liability under section 1.752-2 of the Regulations.
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RECOURSE LIABILITY. As defined in Section 1(e) of the Guaranty Agreement. Recreation: HdC Recreation Holdings I, LLC. Regulations: The permanent and temporary regulations, and all amendments, modifications and supplements thereof, from time to time promulgated by the Secretary of the Treasury under the Code. Secretary of State: The Secretary of State of the State of Delaware. Specially Designated National or Blocked Person: (i) Persons designated by the U.S. Department of Treasury’s Office of Foreign Assets Control, or other governmental entity, from time to time as a “specially designated national or blocked person” or similar status, (ii) a Person described in Section 1 of U.S. Executive Order 13224 issued on September 23, 2001, or (iii) a Person otherwise identified by government or legal authority as a Person with whom the Partners are prohibited from transacting business.
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RECOURSE LIABILITY means the full personal and recourse liability of Guarantor pursuant to the final paragraph of this clause (c) and further described in Section 4, together with the full personal and recourse liability of Guarantor to indemnify Lender for any or all loss, cost, liability, judgment, claim, damage or expense sustained, suffered or incurred by Lender (including, without limitation, Lender's attorneys' fees) arising out of or attributable or relating to (collectively and inclusive of (i) through (xiv) hereof):
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RECOURSE LIABILITY. As defined in Section 1(e) of the Guaranty Agreement.
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RECOURSE LIABILITY means the amount of indebtedness owed by the Partnership other than Nonrecourse Liabilities and Partner Nonrecourse Debt.
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RECOURSE LIABILITY has the meaning provided in Article 11.
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Related to RECOURSE LIABILITY

  • Recourse Liabilities means the amount of liabilities owed by the Partnership (other than Nonrecourse Liabilities and liabilities to which Partner Nonrecourse Deductions are attributable in accordance with Section 1.704-(2)(i) of the Regulations).

  • Nonrecourse Liability has the meaning set forth in Regulations Section 1.752-1(a)(2).

  • Nonrecourse Liabilities has the meaning set forth in Section 1.704-2(b)(3) of the Regulations.

  • Common expense liability means the liability for common

  • Nonrecourse Obligation means indebtedness or other obligations substantially related to (i) the acquisition of assets not previously owned by the Company or any Restricted Subsidiary or (ii) the financing of a project involving the development or expansion of properties of the Company or any Restricted Subsidiary, as to which the obligee with respect to such indebtedness or obligation has no recourse to the Company or any Restricted Subsidiary or any assets of the Company or any Restricted Subsidiary other than the assets which were acquired with the proceeds of such transaction or the project financed with the proceeds of such transaction (and the proceeds thereof).

  • Capitalized Lease Liabilities means all monetary obligations of the Borrower or any of its Subsidiaries under any leasing or similar arrangement which, in accordance with GAAP, would be classified as capitalized leases, and, for purposes of this Agreement and each other Loan Document, the amount of such obligations shall be the capitalized amount thereof, determined in accordance with GAAP, and the stated maturity thereof shall be the date of the last payment of rent or any other amount due under such lease prior to the first date upon which such lease may be terminated by the lessee without payment of a penalty.

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

  • Nonrecourse Indebtedness means, with respect to a Person, an Extension of Credit or other Indebtedness in respect of which recourse for payment (except for customary exceptions for fraud, misapplication of funds, environmental indemnities, and other similar customary exceptions to recourse liability) is contractually limited to specific assets of such Person encumbered by a Lien securing such Extension of Credit or other Indebtedness.

  • Limited Recourse Indebtedness means Indebtedness incurred by the Parent Guarantor or any Subsidiary to finance the creation or development of a Project or proposed Project of the Parent Guarantor or such Subsidiary, provided that, as specified in the terms of such Limited Recourse Indebtedness:

  • Non-Recourse Indebtedness means Indebtedness the terms of which provide that the lender’s claim for repayment of such Indebtedness is limited solely to a claim against the property which secures such Indebtedness.

  • Non-recourse Obligation means indebtedness or other obligations substantially related to (1) the acquisition of assets not previously owned by the Company or any direct or indirect Subsidiaries of the Company or (2) the financing of a project involving the development or expansion of properties of the Company or any direct or indirect Subsidiaries of the Company, as to which the obligee with respect to such indebtedness or obligation has no recourse to the Company or any direct or indirect Subsidiary of the Company or such Subsidiary’s assets other than the assets which were acquired with the proceeds of such transaction or the project financed with the proceeds of such transaction (and the proceeds thereof).

  • Non-Recourse Parties has the meaning provided in Section 12.16.

  • Recourse Obligations has the meaning set forth in Section 2.1.

  • Recourse Debt means Indebtedness that is not Non-Recourse Indebtedness.

  • Non-recourse Project Financing means any Indebtedness incurred in connection with the financing of all or part of the costs of the acquisition, construction or development of any project, provided that: (i) any Security Interest given by the Bank or the relevant Subsidiary is limited solely to assets of the project; (ii) the Person or Persons providing such financing expressly agrees to limit their recourse to the project financed and the revenues derived from such project as the principal source of repayment for the moneys advanced; and (iii) there is no other recourse to the Bank or the relevant Subsidiary in respect of any default by any Person under the financing; and

  • Recourse Indebtedness means Indebtedness that is not Non-Recourse Indebtedness; provided that personal recourse for Customary Recourse Exceptions shall not, by itself, cause such Indebtedness to be characterized as Recourse Indebtedness.

  • Liability Cap has the meaning ascribed to it in paragraph 1 of Schedule 9;

  • Non-Recourse Party has the meaning set forth in Section 5.16 hereof.

  • Non-Recourse Subsidiary means any Subsidiary of the Company (1) whose principal purpose is to incur Non-Recourse Indebtedness and/or construct, lease, own or operate the assets financed thereby, or to become a direct or indirect partner, member or other equity participant or owner in a partnership, limited partnership, limited liability partnership, corporation (including a business trust), limited liability company, unlimited liability company, joint stock company, trust, unincorporated association or joint venture created for such purpose (collectively, a “Business Entity”), (2) who is not an obligor or otherwise bound with respect to any Indebtedness other than Non-Recourse Indebtedness, (3) substantially all the assets of which Subsidiary or Business Entity are limited to (x) those assets being financed (or to be financed), or the operation of which is being financed (or to be financed), in whole or in part by Non-Recourse Indebtedness, or (y) Capital Stock in, or Indebtedness or other obligations of, one or more other Non-Recourse Subsidiaries or Business Entities, and (4) any Subsidiary of a Non-Recourse Subsidiary; provided that such Subsidiary shall be considered to be a Non-Recourse Subsidiary only to the extent that and for so long as each of the above requirements are met.

  • Non-Recourse Debt means Indebtedness:

  • MREL Eligible Liabilities means “eligible liabilities” (or any equivalent or successor term) which are available to meet any MREL Requirement (however called or defined by then Applicable MREL Regulations) of the Issuer under Applicable MREL Regulations;

  • Customary Recourse Exceptions means, with respect to any Non-Recourse Debt of an Unrestricted Subsidiary, exclusions from the exculpation provisions with respect to such Non-Recourse Debt for the voluntary bankruptcy of such Unrestricted Subsidiary, fraud, misapplication of cash, environmental claims, waste, willful destruction and other circumstances customarily excluded by lenders from exculpation provisions or included in separate indemnification agreements in non-recourse financings.

  • Secured Recourse Indebtedness means the portion of Secured Indebtedness that is not Non-Recourse Debt.

  • Gross Liability Value means, with respect to any Liability of the Partnership described in Treasury Regulation Section 1.752-7(b)(3)(i), the amount of cash that a willing assignor would pay to a willing assignee to assume such Liability in an arm’s-length transaction.

  • Member Nonrecourse Debt Minimum Gain means an amount, with respect to each Member Nonrecourse Debt, equal to the Company Minimum Gain that would result if the Member Nonrecourse Debt were treated as a Nonrecourse Liability, determined in accordance with Treasury Regulations Section 1.704-2(i)(3).

  • Eligible Liabilities and “Special Deposits” have the meanings given to them from time to time under or pursuant to the Bank of England Act 1998 or (as may be appropriate) by the Bank of England;