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nonrecourse

adjective
non·​re·​course | \ ˌnän-ˈrē-ˌkȯrs How to pronounce nonrecourse (audio) , -ri-ˈkȯrs\

Definition of nonrecourse

: being or based on an agreement in which the lender has no right of recourse to the borrower's assets beyond stated limits a nonrecourse note a nonrecourse loan

Examples of nonrecourse in a Sentence

Recent Examples on the Web

 Sinai said lenders charged higher interest rates than banks because making nonrecourse loans, as they are known, was riskier. — Ken Belson, New York Times, "Retired N.F.L. Players Appeal Ruling on Concussion Settlement APRIL 28, 2016," 9 May 2016

First Known Use of nonrecourse

1905, in the meaning defined above

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More Definitions for nonrecourse

non-recourse

adjective
non-re·​course | \ ˌnän-ˈrē-ˌkȯrs, -ri-ˈkȯrs\

Legal Definition of non-recourse

: of, relating to, or being a debt whose satisfaction may be obtained on default only out of the particular collateral given and not out of the debtor's other assets a non-recourse mortgage — compare recourse

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