PACE bond definition

PACE bond means any bond, note, or other evidence of
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PACE bond means a bond issued by the Transferor under a master indenture together with a supplemental indenture secured by Transferor’s right to receive payment pursuant to one or more Assessment Contracts.
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PACE bond means any bond, note, or other evidence of indebtedness representing an obligation to pay money, including refunding bonds, issued under or in accordance with Section 35.
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Examples of PACE bond in a sentence

  • Governmental units permissively assign assessment contracts to the Illinois Finance Authority for its standardized, efficient, and affordable PACE bond financing services, which PACE bonds are issued pursuant to subsection (d) of Section 825-65 of the Illinois Finance Authority Act, 20 ILCS 3501/801-1 et seq., in accordance with the Property Assessed Clean Energy Act.

  • For example, if interest rates rise substantially between the time the PACE bond rate is set and the time the homeowner sells the house, PACE assessments could be an advantage to a buyer.

  • To qualify for assistance pursuant to this chapter, the PACE program shall require all of the following: (a) The interest rate on the PACE bond does not exceed a percentage as determined by the authority to be appropriate.

  • An applicant shall submit to the authority an application providing a detailed description of the PACE program, a detailed description of the transactional activities associated with the PACE bond issuance, including all transactional costs, information regarding any credit enhancement or loan insurance associated with a PACE loan program, and other information deemed necessary by the authority.

  • After approximately a decade of gestation in the General Assembly and three major pieces of legislation (2017, 2018 and most recently, Public Act 101-0169, the PACE Act technical re- write), the Authority also successfully closed the first PACE bond financing in Illinois in collaboration with the City of Chicago.

  • An applicant shall submit to the authority an application providing a detailed description of the PACE program, a detailed description of the transactional activities associated with the PACE bond issuance, including all transactional costs, information regarding any credit enhancement or insurance associated with the PACE program, and other information deemed necessary by the authority.

  • Nowhere does the Legislature require that, before a PACE bond issue may be validated, the documents show specific, executed interlocal agreements or any specific assessments to be reviewed.

  • In short, the investor in a PACE bond can be reasonably certain of repayment as long as there is enough value in the house in a tax forfeiture proceeding to cover the amount of PACE financing.

  • In addition to the Demising Improvements, Seller and Buyer shall cooperate to separate the components of the access-controls and security system for the Leased Premises that are shown as managed by Poly on Exhibit B-3 of this Agreement from the existing security system for the remainder of the Property prior to Closing.

  • In accordance with this section, the Department shall approve each commercial PACE pro- ject prior to the issuance of a PACE bond under chapter 23M and in so doing shall consider whether the energy cost savings of the commercial energy improvements over the useful life of such improvements exceed the costs of such improvements.”.


More Definitions of PACE bond

PACE bond means a bond issued by the Transferor under an Indenture secured by Transferor’s right to receive payment pursuant to one or more Assessment Contracts.
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Related to PACE bond

  • Reference Bond means for any Reset Period a government security or securities issued by the state responsible for issuing the Specified Currency (which, if the Specified Currency is euro, shall be Germany) selected by the Issuer on the advice of an investment bank of international repute as having an actual or interpolated maturity comparable with the relevant Reset Period that would be utilised, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities denominated in the same currency as the Notes and of a comparable maturity to the relevant Reset Period.

  • Surety Bond means a bond from a Bond company with a credit rating by AMBEST better than a “B”. The bonding company shall be certified to issue bonds in a state in which this Agreement is approved.

  • Payment Bond is one executed in connection with a contract to assure payment as required by law of all persons supplying labor and material in the execution of the work provided for in the contract.

  • Corporate bond means a senior secured debt obligation issued by a domestic business entity and rated not lower than “AA-” or the equivalent by a nationally recognized investment rating firm. The term does not include a debt obligation that, on conversion, would result in the holder becoming a stockholder or shareholder in the entity, or any affiliate or subsidiary of the entity, that issued the debt obligation, or is an unsecured debt obligation. Gov’t Code 2256.0204(a)

  • covered bond means a debt security issued by any member of the banking group, for which repayment to holders is guaranteed by a SPV, and investors retain an unsecured claim on the issuer.

  • Revenue bond means any bond, note, or other evidence of

  • Reference Bond Dealer means each of five banks which are primary government securities dealers or market makers in pricing corporate bond issuances, as selected by the Calculation Agent in its discretion after consultation with the Issuer;

  • Security Bond means an amount payable by a tenant as security for the performance of his obligations under a residential tenancy agreement, including an amount referred to in section 29(1)(b)(ii);

  • Replacement Bonds means Bonds issued to the Beneficial Owners of the Bonds in accordance with Section 210 hereof.

  • Bond means a debt instrument (Sw. skuldförbindelse) for the Nominal Amount and of the type set forth in Chapter 1 Section 3 of the Financial Instruments Accounts Act and which are governed by and issued under these Terms and Conditions, including the Initial Bonds and any Subsequent Bonds.

  • Performance Bond means the financial security for performance a USF Service Provider must furnish in accordance with section 54 of this RFA;

  • Related Bond means, in respect of an Inflation Index, the bond specified as such in the applicable Final Terms. If the Related Bond specified in the applicable Final Terms is "Fallback Bond", then, for any Related Bond determination, the Calculation Agent shall use the Fallback Bond. If no bond is specified in the applicable Final Terms as the Related Bond and "Fallback Bond: Not Applicable" is specified in the applicable Final Terms, there will be no Related Bond. If a bond is specified as the Related Bond in the applicable Final Terms and that bond redeems or matures before the End Date (i) unless "Fallback Bond: Not Applicable" is specified in the applicable Final Terms, the Calculation Agent shall use the Fallback Bond for any Related Bond determination and (ii) if "Fallback Bond: Not Applicable" is specified in the applicable Final Terms, there will be no Related Bond.

  • Reference Bond Price means, with respect to any date of redemption, (a) the arithmetic average of the Reference Government Bond Dealer Quotations for such date of redemption, after excluding the highest and lowest such Reference Government Bond Dealer Quotations, or (b) if the Determination Agent obtains fewer than four such Reference Government Bond Dealer Quotations, the arithmetic average of all such quotations;

  • Global Bond means the Original Global Bond and/or as the context may require any global bond representing any Further Bonds or any of them.

  • First Mortgage Bonds means bonds issued by the Company pursuant to the Indenture.

  • Municipal bond means a bond or evidence of indebtedness issued by a municipality or other political subdivision of a state.

  • Refunding Bond or “Refunding Bonds” means all or a portion of the

  • Existing Bonds means the following obligations of Seller:

  • Initial Bond means any Bond issued on the First Issue Date. “Initial Bond Issue” has the meaning set forth in Clause 2.1.

  • Bank Bonds means any Bonds purchased with moneys received under the Letter of Credit in connection with a Liquidity Drawing and held by the Tender Agent, or its agent, in each case, for the account of the Issuing Bank.

  • Reference Bond Rate means, with respect to any date of redemption, the rate per annum equal to the annual or semi-annual yield (as the case may be) to maturity or interpolated yield to maturity (on the relevant day count basis) of the Reference Bond, assuming a price for the Reference Bond (expressed as a percentage of its nominal amount) equal to the Reference Bond Price for such date of redemption;

  • Debt bondage means the status or condition of a debtor arising from a pledge by the debtor of his or her personal services or of those of a person under his or her control as a security for debt, if the value of those services as reasonably assessed is not applied

  • Surety Bonds means surety bonds obtained by the Borrower or any Restricted Subsidiary consistent with market practice and the indemnification or reimbursement obligations of the Borrower or such Restricted Subsidiary in connection therewith.

  • ALTA means American Land Title Association, or any successor thereto.

  • Blanket Mortgage The mortgage or mortgages encumbering a Cooperative Property.

  • Bid Bond means the unconditional and irrevocable bank guarantee to be submitted along with the Bid by the Bidder under Clause 3.14 of this RFS, in the prescribed Format- 3.