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The lenders’ recourse is As a result limited mainly or totally for the project’s property, such as completion and efficiency guarantees and bonds, in the event that the project corporation defaults.
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In case the Qualities promote for less than the quantity owed, the money establishment can go after just the debtor With all the recourse loan. The debtor While using the non-recourse bank loan cannot be pursued for any further payment outside of the seizure from the asset.
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