Definition of non-recourse in English:

non-recourse

adjective ˌnɒnˈrikɔːsˌnɒnrɪˈkɔːs

Finance

Attributive Of, designating, or relating to, a loan under the terms of which the lender has a limited right of recourse, or none, against the borrower; especially (US) a government loan made to a farmer and secured against a future crop, whereby the government is legally prohibited from taking action should the proceeds of the crop be insufficient for repayment (frequently as "non-recourse loan"). Also: of, designating, or relating to, a loan made to finance a particular project, whereby the project's profits are the only assets out of which the borrowing company is legally obliged to repay the loan.

Early 20th century; earliest use found in The Syracuse Herald. From non- + recourse.

单词	non-recourse
释义	Definition of non-recourse in English: non-recourse adjective ˌnɒnˈrikɔːsˌnɒnrɪˈkɔːs Finance Attributive Of, designating, or relating to, a loan under the terms of which the lender has a limited right of recourse, or none, against the borrower; especially (US) a government loan made to a farmer and secured against a future crop, whereby the government is legally prohibited from taking action should the proceeds of the crop be insufficient for repayment (frequently as "non-recourse loan"). Also: of, designating, or relating to, a loan made to finance a particular project, whereby the project's profits are the only assets out of which the borrowing company is legally obliged to repay the loan. Origin Early 20th century; earliest use found in The Syracuse Herald. From non- + recourse.
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