Definition of nonrecourse
: 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
Recent Examples of nonrecourse from the Web
Sinai said lenders charged higher interest rates than banks because making nonrecourse loans, as they are known, was riskier.
These example sentences are selected automatically from various online news sources to reflect current usage of the word 'nonrecourse.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.
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