The Law Dictionary

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FULL RECOURSE LOAN Definition & Legal Meaning

Definition & Citations:

A LOAN with repayment that may come from the proceeds of the project/ASSET being financed or the sale of specific COLLATERAL, or from the resources of the borrower if project/ collateral CASH FLOWS prove insufficient. See also RECOURSE, NONRECOURSE, NONRECOURSE LOAN, PARTIAL RECOURSE LOAN.


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