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  1. non-recourse

    • IPA[ˌnɒnrɪˈkɔːs]


    • adj.
      (of a loan) made to finance a particular project, with the condition that the project's profits are the only assets out of which the borrower is legally obliged to repay the loan.;(of debt) secured by property or other collateral, with the borrower not being personally liable for further compensation if the debt is not repaid.