Terms Used In CFR > Title 40 > Chapter I > Subchapter A > Part 6 > Subpart C - Requirements for Environmental Information Documents and Third-Party Agreements for Epa Actions Subject to Nepa

• Contract: A legal written agreement that becomes binding when signed.
• Recourse: An arrangement in which a bank retains, in form or in substance, any credit risk directly or indirectly associated with an asset it has sold (in accordance with generally accepted accounting principles) that exceeds a pro rata share of the bank's claim on the asset. If a bank has no claim on an asset it has sold, then the retention of any credit risk is recourse. ^{Source: FDIC}