recourse loan

Recourse Loan

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 or may not secure the loan, the lender is further protected from default by the existence of the co-signer. See also: Non-recourse loan.

recourse loan

A loan in which the lender can claim more than the collateral as repayment in the event that payments on the loan are stopped. Thus, a recourse loan places the borrower's personal assets at risk. Compare nonrecourse loan.
References in periodicals archive ?
The transaction represents a discount of over 86.5% on the bank loan amount and the Lender has now transferred all collateral associated with the project related to the loan to Plaza, while also releasing the company from its recourse loan. As part of the terms of the transaction, the Lender has been granted a purchase option for a term of three years, to acquire the plot for EUR 1.1m.
The company has acquired a USD145.0m limited recourse loan, secured by its InterContinental Chicago hotel property.
One suggested approach would be that by not subjecting the deduction attributable to a member recourse loan to the partner nonrecourse debt rules, the LLC is free to allocate these deductions pursuant to the general sharing ratio under the partnership agreement.
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.
UPC Wind Partners LLC today announced the closing of the first limited recourse loan facility in connection with Clipper Turbine Works Inc.'s 2.5 MW "Liberty" series wind turbine generators.
The company has acquired USD130m limited recourse loan, which is secured by the Four Seasons Washington DC hotel, owned by the company.
Petunia, a New York limited partnership, purchased from the Venture Company computer equipment that had been involved in four prior sales transactions, subject to a user lease, a recourse loan and a security agreement.
Bhat secured a partial recourse loan priced under 3.70 percent fixed and no upfront lender fee.
(NYSE: BEE) and its joint venture partner have announced that the joint venture has closed a USD225.0 million limited recourse loan secured by the JW Marriott Essex House hotel.
The company has acquired USD110m limited recourse loan, which is secured by the Loews Santa Monica Beach Hotel, owned by the company.
Fitch Ratings has assigned its expected long-term 'BBB+' rating to VTB Capital SA's planned issue of US dollar-denominated limited recourse loan participation notes.
Real estate investment trust Strategic Hotels & Resorts Inc (NYSE:BEE) and its joint venture (JV) partner declared together on Wednesday that the JV has closed a limited recourse loan of USD225.0m, secured by the JW Marriott Essex House hotel.