Define: Non-Recourse Carveout Guaranty
Non-Recourse Carveout Guaranty means an industry-standard non-recourse guarantee addressing obligations from contract violations, environmental indemnities, and misuse of collateral proceeds.
Non-Recourse Carveout Guaranty means an industry-standard non-recourse guarantee addressing obligations from contract violations, environmental indemnities, and misuse of collateral proceeds.
Relevant Circumstances
- When a non-recourse loan is backed by a guarantee covering specific bad acts
- If environmental indemnities or fraud trigger personal liability
- Where lenders need recourse for misappropriation of collateral proceeds