What does the term: nonrecourse deduction(s) mean?
In legal documents I have seen the term nonrecourse deduction(s) used as it pertains to taxation and other economic factors. It is not clear to me from the context what the term is meant to convey.
The Company will allocate any item of nonrecourse deduction to the Founders equally; provided, that any Founder’s partner nonrecourse deductions for any fiscal year or other period will be specially allocated to the Founder who bears the economic risk of loss with respect to the nonrecourse debt to which such partner nonrecourse deductions are attributable. [...]