Lender's Model State-of-the-Art Nonrecourse Clause (With Carveouts) [1997]. This article is offered only as a study of nonrecourse clauses, and an example of relatively straightforward legal drafting. The author does not believe that every nonrecourse clause should have this many carveouts. This article appeared in The Practical Lawyer. Click here for subscription information. A version of this article appears in Lender's Guide to Structuring and Closing Commercial Mortgage Loans, published in 2004, by Joshua Stein PLLC. For more information, click here.
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