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单词 nonrecourse
释义

nonrecourse

adjective

non·​re·​course ˌnän-ˈrē-ˌkȯrs How to pronounce nonrecourse (audio)
-ri-ˈkȯrs
: 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

Example Sentences

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, 9 May 2016

Word History

First Known Use

1905, in the meaning defined above

Legal Definition

non-recourse

adjective

non-re·​course
ˌnän-ˈrē-ˌkȯrs, -ri-ˈkȯrs
: 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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更新时间:2024/12/23 23:24:21