Related Words

Limited Recourse: Rights only to specifically stipulated assets to satisfy an unpaid debt.

Recourse: Refers to the right, in an agreement, to demand payment from the person who is taking on an obligation. A full recourse loan refers to the right of the lender to take any assets of the borro . . . View Full Definition

Nonrecourse: In the case of default, the lender has ability to claim assets over and above what the limited partners contributed.

Nonrecourse Loan: A loan taken by limited partners used to finance their portion of the partnership, which is secured by their ownership in the venture.

Nonrecourse Loans: Farmers or processors participating in government commodity programs may pledge certain stored commodities as collateral and obtain a loan from the CCC at a commodity-specific, per-unit loan . . . View Full Definition

Mohair Recourse Loan Program: A program authorized by the emergency provisions of the FY1999 USDA appropriations act (P.L. 105-277, October 21, 1998) that makes interest-free recourse loans of $2.00 per pound on mohair p . . . View Full Definition

Master Limited Partnership (MLP): A publicly traded limited partnership.

Limited-Liability Instrument: A security, such as a call option, in which the owner can lose only the initial investment.

Without Recourse: Indicates a one-way market if 70 were bid in the market and there was no offer, the quote would be '70 bid without.'.

Limited-Tax General Obligation Bond: A general obligation bond of a government backed by specified or constrained revenue sources.