NonRecourse Indebtedness

NonRecourse Indebtedness. "Non-Recourse Indebtedness" means any single loan with respect to which recourse for payment is limited to specific assets related to a particular Property or group of Properties encumbered by a Lien securing such Indebtedness, so long as the Adjusted Asset Value for such Property, or the total of the Adjusted Asset Values for such group of Properties, does not exceed One Hundred Million 3 4 ... Dollars ($100,000,000); provided, however, that personal recourse to the REIT, Borrower or any Subsidiary by a holder of any such loan for fraud, misrepresentation, misapplication of cash, waste, environmental claims and liabilities and other circumstances customarily excluded by institutional lenders from exculpation provisions and/or included in separate indemnification agreements in non-recourse financing of real estate shall not, by itself, prevent such loan from being characterized as Non-Recourse Indebtedness. View More

NonRecourse Indebtedness. Indebtedness of an Unrestricted Subsidiary which is not a Liability, in whole or part, of any Restricted Person and which is not secured by any Lien upon any property or assets of any Restricted Person, provided that no such Indebtedness of an Unrestricted Subsidiary shall be considered "Non-Recourse Indebtedness" if any default with respect to such Indebtedness would allow or require any Indebtedness which is owed by one or more of... the Restricted Persons to be accelerated or otherwise made payable in advance of its stated maturity. View More

NonRecourse Indebtedness. Shall mean any Indebtedness incurred by any Seller, provided that (i) such Indebtedness is non-recourse to any shareholder or equity owner of any Seller, (ii) such Indebtedness or certain classes or tranches thereof are publicly issued and/or privately placed Indebtedness of any Seller and (iii) such Indebtedness or certain classes or tranches thereof are rated by at least one of the Rating Agencies.

NonRecourse Indebtedness. Means all Indebtedness of any Seller or its Subsidiaries that is non-recourse to such party, including any term securitization.

NonRecourse Indebtedness. Shall mean, with respect to any Person, Indebtedness for borrowed money in respect of which recourse for payment (except for customary exceptions for fraud, misapplication of funds, environmental indemnities, and other customary exceptions to non-recourse provisions) is contractually limited to specific assets of such Person encumbered by a Lien securing such Indebtedness.