Full recourse

Full recourse

No matter what risk event occurs, the borrower or its guarantors guarantee to repay the debt. This is not a project financing unless the borrower's sole asset is the project.

Full Recourse

Describing a loan for which there is a co-signer. That is, if the borrower defaults on the loan, the co-signer becomes legally liable for repayment. Thus, in addition to any collateral that may secure the loan, the lender is further protected from default by the existence of the co-signer. See also: Non-recourse loan.
References in periodicals archive ?
The loans are full recourse in nature and secured by multi-family and commercial income producing properties.
iii) a Full Recourse Direct Risk Sharing Facility ( RSF ) of up to USD 10 million for the provision of long-term financing to private local MSMEs and
The fixed-rate loans benefit from full recourse to each owner of more than a 10 percent share of the property, and a majority of the loans are secured by a lien on FFE.
We understand that there remains full recourse from these bank loans to the remaining assets of Beema in the event of a deterioration in the invested Sukuk assets.
The proceeds of this $61MM, 75% LTV, CMBS loan were used by the borrower for the refinance of full recourse lines of credit that had been used to acquire, renovate and re-tenant 20 industrial properties, which comprised 2MM square feet.
In the court's words, "[h]aving freely and knowingly negotiated for the benefit of avoiding recourse liability generally, and agreeing to the burden of full recourse liability in certain specified circumstances, [the borrower and guarantors] may not now escape the consequences of their bargain.
MEDIATION is frequently favoured by parties involved in a dispute as a way of resolving their differences without full recourse to the courts.
In non-recourse loans, some "bad boy" provisions have the effect of converting the non-recourse loan to a full recourse loan such that the borrower becomes liable for the full amount of the loan.
That has left IROs, investors and developers with financing options limited to a handful of smaller banks requiring full recourse provisions or a few Fannie Mae shops that have an interest in pursuing loans under $2 million.
The use of a full recourse note to purchase the stock would allow ABC to target G's personal assets to obtain full repayment of the note if G were to default on the loan.
The credit facilities will be issued under regular banking terms, with the bank maintaining full recourse in the event of default.
We should have full recourse over police mismanagement.