Full recourse(redirected from With Recourse)
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Related to With Recourse: Without 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.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.
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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved