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 loan remains current and has full recourse to the borrower.
I applaud my colleagues for joining together and with the American people to stand against President Obama's attempt to deprive terror victims from receiving full recourse under the law," Cruz said in a statement.
Fitch's analytical assumption under these criteria is that the structure of the Sukuk and the underlying transaction(s) provides for full recourse to the originator - as with a conventional bond issue - and the Sukuk rating is driven solely by the originator's rating.
To the extent that a breach of certain SPE provision triggers full recourse liability, such liability should only be triggered to the extent such breach results in the substantive consolidation of the liabilities and assets of a borrower with another person and such breach is cited by the court as a factor in such decision.
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
Nor do we think it materially undermines the full recourse recovery framework for Spain's mortgage market.
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.
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.
Since the liquidity provider takes the first loss position and the reverse repos provide full recourse to UniCredit, the probability of the liquidity provider sustaining a loss is directly linked to the credit quality of UniCredit, Fitch noted.