non-recourse
/ˌnɒnrɪˈkɔːs/ /ˌnɒnˈrikɔːs/Finance
adjective
Attributive Of, designating, or relating to, a loan under the terms of which the lender has a limited right of recourse, or none, against the borrower; especially ( US ) a government loan made to a farmer and secured against a future crop, whereby the government is legally prohibited from taking action should the proceeds of the crop be insufficient for repayment (frequently as non-recourse loan). Also: of, designating, or relating to, a loan made to finance a particular project, whereby the project's profits are the only assets out of which the borrowing company is legally obliged to repay the loan.
Origin
Early 20th century; earliest use found in The Syracuse Herald. From non- + recourse.
- planetary wave
- planetary wheel
- planetary year
- planet cage
- planet carrier
- Planet Earth
- planetesimal
- planetfall
- planethood
- planetic
- plane time
- planetismal
- planetless
- planetocentric
- planetography
- planetoid
- planetoidal
- planetokhod
- planetolatry
- planetologist
- planetology
- planet pinion
- plane tree
- planet sphere
- planet-struck