Nonrecourse Carveout Provisions in Commercial Real Estate (Mezzanine Loans) (Pro-Lender) | Practical Law
Standard Clauses representative of the nonrecourse carveout provisions customarily found in mezzanine loans. These Standard Clauses describe the actions and omissions that can create personal liability for a mezzanine borrower and its guarantors by converting nonrecourse liability into full or partial recourse liability. These Standard Clauses have integrated notes with important explanatory and drafting tips.