Nonrecourse
Definition, Meaning & Examples
Part of speech adjective
Quick meaning: Nonrecourse is an adjective meaning (finance) Of or pertaining to a form of financing, typically debt financing, in which the lender's recourse to recovery in the event of default is limited to the collateral asset only.
Meaning
(finance) Of or pertaining to a form of financing, typically debt financing, in which the lender's recourse to recovery in the event of default is limited to the collateral asset only.
Example Sentences
nonrecourse loan
Related Words
Related dictionary entries include collateral, limited-liability, asset-backed, mortgage-backed, collateralized, collateralised.
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Sources & Attribution
FreeDictionaryAPI.com / Wiktionary · Original source · CC BY-SA 4.0
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