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A non-recourse clause is a provision in a loan agreement that limits the lender's ability to seek repayment beyond the collateral securing the loan. If the borrower defaults, the lender can only seize the specified collateral and cannot pursue the borrower's other assets or income. This clause is often used in real estate and project financing to protect borrowers from excessive financial liability. It effectively shifts the risk of loss to the lender if the collateral does not cover the outstanding debt.
What else can I help you with?
Is Florida a nonrecourse state on residential property?
No
Is Massachusetts a nonrecourse state on residential property?
yes
Is a mortgage a recourse or nonrecourse debt?
A mortgage can be either a recourse or nonrecourse debt, depending on the terms of the loan agreement. In a recourse mortgage, the lender can seek additional assets of the borrower if the property does not cover the full amount owed. In a nonrecourse mortgage, the lender's only recourse is the property itself.
Is Kansas a non recourse state?
Is Kansas a nonrecourse state? A non
How is sugar supported in the US?
Price supports for sugar in the United States are provided in the form of nonrecourse loans so that sugar growers can borrow money with the crop as collateral
The what is also known as the elastic clause?
Another name for the Elastic Clause is the Necessary and Proper Clause.
What is an objective clause?
An objective clause is a clause which is like a learning objective but this is the objective for an clause
What is the other name of your relative clause?
Restrictive Clause is the other name of relative clause..
What clause allows congress to expand its power?
full credit
An adjective clause is a clause that?
a dependent clause that modifies a noun
What kind of clause contains a subject and a predicate?
It can be an independent clause or a dependent clause. It is an independent clause if does not have a word at the beginning like "but" or "because". If there is a word like this at the beginning of the clause, it is a dependent clause.
What is an insubordinate clause?
An insubordinate clause is just another word for an Independent clause. A subordinate clause is just another word for a Dependent clause. An Independent clause is a sentence that can stand by itself and a dependent clause can't stand by itself.
