nonrecourse loan

[ non-ree-kawrs, -kohrs, non-ri-kawrs, -kohrs ]

/ nɒnˈri kɔrs, -koʊrs, ˌnɒn rɪˈkɔrs, -ˈkoʊrs /

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noun Finance.

a loan for which the borrower cannot be held responsible for any amount in excess of the security for the loan, even if the value of such security falls below the level it had or that had been anticipated for it at the time of the loan.

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Origin of nonrecourse loan

non- + recourse

Words nearby nonrecourse loan

non-rapid eye movement, nonrational, nonreadable, nonrebreathing anesthesia, nonrecognition, nonrecourse loan, nonrecurrent, nonrecurring, nonreflexive, nonregent, nonrelativistic quantum mechanics

How to use nonrecourse loan in a sentence

This loan has done nothing to deter the hardliners: just ask the current occupants of Evin prison.
Britain Has Lost Its Marbles: Elgin Loan Will Appease Putin|Geoffrey Robertson|December 5, 2014|DAILY BEAST
What were the terms of the loan—did the Hermitage pay and if not, why not?
Britain Has Lost Its Marbles: Elgin Loan Will Appease Putin|Geoffrey Robertson|December 5, 2014|DAILY BEAST
He jokes about going through airport security with the then 800-year-old document, which is now on loan to the National Archives.
Patriotic Philanthropy: Not an Oxymoron|Eleanor Clift|November 27, 2014|DAILY BEAST
He continues to search for a loan to renovate his beloved Hotel Pourquoi Pas?
‘Argo’ in the Congo: The Ghosts of the Stanleyville Hostage Crisis|Nina Strochlic|November 23, 2014|DAILY BEAST

Old people vote in midterms, so it stands a much better chance of having an impact than a last-second student-loan scare.
Hooray for Liberal Fear-Mongering!|Michael Tomasky|October 28, 2014|DAILY BEAST
War credit banks were more general in their dealings than war loan banks.
Readings in Money and Banking|Chester Arthur Phillips
Must I add, that your good money paid this second loan—and yet a third—a fourth—a fifth?
Blackwood's Edinburgh Magazine, No. CCCXXXIX. January, 1844. Vol. LV.|Various
They would certainly ask that question, and perhaps refuse the loan.
Blackwood's Edinburgh Magazine, No. CCCXXXIX. January, 1844. Vol. LV.|Various
For us to take her place it became necessary for us to loan before we could sell and buy.
Readings in Money and Banking|Chester Arthur Phillips
Syfe settled with him in cash by taking a large loan on his homestead and giving Barr the proceeds.
The Homesteader|Oscar Micheaux