HomeDefinitionsCompareDebt Without recourseThe financial definition for Without recourse:Giving the lender no right to seek payment or seize assets in the event of nonpayment from anyone other than the party specified in the debt contract (such as a special-purpose entity). Similar MatchesNonrecourseNonrecourseIn the case of default, the lender has ability to claim assets over and above what the limited partners contributed. Nonrecourse loanNonrecourse loanA loan taken by limited partners used to finance their portion of the partnership, which is secured by their ownership in the venture. RecourseRecourseTerm describing a type of loan. If a loan is with recourse, the lender has a general claim against the parent company if the collateral is insufficient to repay the debt. Further SuggestionsWithout Recourse FinancingClick to compare definitions of Without recourse Click to view definitions beginning wi |