nonrecourse
adjective
non·re·course
ˌnän-ˈrē-ˌkȯrs 
-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
Examples of nonrecourse in a Sentence
Recent Examples on the Web
Through a series of related steps, the seller receives an amount equivalent to the sales price less transactional fees in the form of a nonrecourse unsecured loan and reports the transaction as an installment sale.
—
Carrie Brandon Elliott, Forbes, 20 Apr. 2023
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
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Carrie Brandon Elliott, Forbes, 20 Apr. 2023
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
Dictionary Entries Near nonrecourse
Cite this Entry
“Nonrecourse.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/nonrecourse. Accessed 21 Nov. 2024.
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