Recourse to Assets Sample Clauses

Recourse to Assets. Loans made to any Borrower shall be repaid solely from the assets of such Borrower, and a Lender shall have no right of recourse or offset against the assets of any other Fund with respect to such Loans or any default in respect thereto. Each Lender’s liability under this Master Agreement with respect to a Loan shall be solely limited to the Lender’s assets and each Borrower hereby waives any and all rights it may have against any other Funds with respect to such Loan or any default by Lender with respect thereto.
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Recourse to Assets. Loans made to each Borrower shall be paid solely to the account of such Borrower and used by such Borrower solely in accordance with SECTION 5.10. The obligations of each Borrower under this Agreement and the other Loan Documents are several and not joint. The principal amount of the Loans made to a particular Borrower and accrued interest thereon, and any fees or additional amounts payable in connection with or relating to such Loans pursuant to this Agreement, including, without limitation, SECTIONS 2.07, 8.01, and 9.03, shall be paid or repaid solely from the assets of such Borrower only, and Lenders shall have no right of recourse or offset against the assets of any other Borrower with respect to such Loans or such other obligations or amounts, or on account of any default in respect thereto.
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Recourse to Assets. Loans made to any Portfolio shall be repaid solely from the assets of such Portfolio, and a Lender shall have no right of recourse or offset against the assets of any other Portfolio with respect to such Loans or any default in respect thereto. Each Lender’s liability under this Agreement with respect to a Loan shall be solely limited to the Lender’s assets and each Borrower hereby waives any and all rights it may have against any other Portfolios with respect to such Loan or any default by Lender with respect thereto.
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Recourse to Assets. The Members shall look solely to the assets of the Company for any profits or return of their capital contributions. If the assets remaining after the payment or discharge of the debts and liabilities of the Company are insufficient to return a Member's capital contributions or profits, the Member shall have no recourse against the Company or the other Members.
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Recourse to Assets. 9 ARTICLE III CONDITIONS SECTION 3.01 Effectiveness.......................................................... 9 3.02 All Borrowings......................................................... 10
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Recourse to Assets. The Share Holders shall look solely to the assets of the Company for any profits or return of their capital contributions. If the assets remaining after the payment or discharge of the debts and liabilities of the Company are insufficient to return a Share Holder's capital contributions or profits, the Share Holder shall have no recourse against the Company or the other Share Holders.
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Recourse to Assets. Interfund Loans made to any Borrowing Fund shall be repaid solely from the assets of such Borrowing Fund, and a Lending Fund shall have no right of recourse or offset against the assets of any other Fund with respect to such Interfund Loans or any default in respect thereto. Each Lending Fund’s obligation under this Master Agreement with respect to an Interfund Loan shall be solely limited to the Lending Fund’s assets and each Borrowing Fund hereby waives any and all rights it may have against any other Funds with respect to such Interfund Loan or any default by a Lending Fund with respect thereto.
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Recourse to Assets. Loans made to Customer hereunder for use by a Fund shall be paid solely to the account of that Fund, and used by that Fund, solely in accordance with Section 4(i) hereof. The obligations of Customer on behalf of each of the Funds under this Agreement and the Related Documents are several and not joint. The principal amount of the Loans made for use by a particular Fund and accrued interest thereon and any fees or additional amounts payable in connection with or relating to such Loans pursuant to this Agreement, shall be paid or repaid solely from the assets of such Fund, and Lender shall have no right of recourse or offset against the assets of any other Fund with respect to such Loans or such other obligations or amounts, or any default in respect thereto.
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Recourse to Assets. Loans made to Customer hereunder for use by a Fund shall be paid solely to the account of that Fund, and used by that Fund, solely in accordance with Section 4(i) hereof. The obligations of Customer on behalf of each of the Funds under this Agreement and the Related Documents are several and not joint. The principal amount of the Loans made for use by a particular Fund and accrued interest thereon and any fees or additional amounts payable in connection with or relating to such Loans pursuant to this Agreement, shall be paid or repaid solely from the assets of such Fund, and Lender shall have no right of recourse or offset against the assets of any other Fund with respect to such Loans or such other obligations or amounts, or any default in respect thereto.
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Related to Recourse to Assets

  • Recourse Obligations The Mortgage Loan documents for each Mortgage Loan (a) provide that such Mortgage Loan becomes full recourse to the Mortgagor and guarantor (which is a natural person or persons, or an entity or entities distinct from the Mortgagor (but may be affiliated with the Mortgagor) that collectively, as of the date of origination of the related Mortgage Loan, have assets other than equity in the related Mortgaged Property that are not de minimis) in any of the following events (or negotiated provisions of substantially similar effect): (i) if any petition for bankruptcy, insolvency, dissolution or liquidation pursuant to federal bankruptcy law, or any similar federal or state law, shall be filed by, consented to, or acquiesced in by, the Mortgagor; (ii) the Mortgagor or guarantor shall have solicited or caused to be solicited petitioning creditors to cause an involuntary bankruptcy filing with respect to the Mortgagor or (iii) voluntary transfers of either the Mortgaged Property or controlling equity interests in the Mortgagor made in violation of the Mortgage Loan documents; and (b) contains provisions for recourse against the Mortgagor and guarantor (which is a natural person or persons, or an entity or entities distinct from the Mortgagor (but may be affiliated with the Mortgagor) that collectively, as of the date of origination of the related Mortgage Loan, have assets other than equity in the related Mortgaged Property that are not de minimis), for losses and damages resulting from the following (or negotiated provisions of substantially similar effect): (i) the Mortgagor’s misappropriation of rents after an event of default, security deposits, insurance proceeds, or condemnation awards; (ii) the Mortgagor’s fraud or intentional material misrepresentation; (iii) breaches of the environmental covenants in the Mortgage Loan documents; or (iv) the Mortgagor’s commission of intentional material physical waste at the Mortgaged Property (but, in some cases, only to the extent there is sufficient cash flow generated by the related Mortgaged Property to prevent such waste).

  • Non-recourse Obligations Notwithstanding anything in this Agreement or any Basic Document, the Owner Trustee agrees in its individual capacity and in its capacity as Owner Trustee for the Trust that all obligations of the Trust to the Owner Trustee individually or as Owner Trustee for the Trust shall be with recourse to the Owner Trust Estate only and specifically shall be without recourse to the assets of the Holder.

  • Title to Assets; Real Property (a) The Company has good and valid (and, in the case of owned Real Property, good and marketable fee simple) title to, or a valid leasehold interest in, all Real Property and personal property and other assets reflected in the Financial Statements or acquired after the Balance Sheet Date, other than properties and assets sold or otherwise disposed of in the ordinary course of business consistent with past practice since the Balance Sheet Date. All such properties and assets (including leasehold interests) are free and clear of Encumbrances except for the following (collectively referred to as “Permitted Encumbrances”):

  • Recourse This Agreement is made with full recourse to the Pledgors and pursuant to and upon all the representations, warranties, covenants and agreements on the part of the Pledgors contained herein and in the other Secured Debt Agreements and otherwise in writing in connection herewith or therewith.

  • Title to Assets; Encumbrances Seller owns good and transferable title to all of the Assets free and clear of any Encumbrances. Seller warrants to Buyer that, at the time of Closing, all Assets shall be free and clear of all encumbrances.

  • Title to Assets The Company and the Subsidiaries have good and marketable title in fee simple to all real property owned by them and good and marketable title in all personal property owned by them that is material to the business of the Company and the Subsidiaries, in each case free and clear of all Liens, except for (i) Liens as do not materially affect the value of such property and do not materially interfere with the use made and proposed to be made of such property by the Company and the Subsidiaries and (ii) Liens for the payment of federal, state or other taxes, for which appropriate reserves have been made therefor in accordance with GAAP and, the payment of which is neither delinquent nor subject to penalties. Any real property and facilities held under lease by the Company and the Subsidiaries are held by them under valid, subsisting and enforceable leases with which the Company and the Subsidiaries are in compliance.

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