PACE Charge Lien definition

PACE Charge Lien means a lien upon the Property benefitted by a Loan due to the non- payment of a PACE Charge on a Statement of Account.
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PACE Charge Lien. A PACE Charge that is unpaid when due, subject to the provisions of Title 11, Chapter 30 of the City Admin. Code, and which is being acquired by the Issuer pursuant to a PACE Charge Lien Direct Sale Purchase Agreement or is being transferred to the Issuer pursuant to a PACE Charge Lien Transfer Agreement.
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PACE Charge Lien means a PACE Charge that is unpaid when due, subject to the provisions of Title 11, Chapter 30 of the New York City Administrative Code, and which is acquired by the Trust pursuant to a PACE Charge Lien Direct Sale Purchase Agreement or is transferred to the Trust in name only pursuant to a PACE Charge Lien Transfer Agreement.
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Examples of PACE Charge Lien in a sentence

  • Any remaining PACE Charge Lien shall be reconveyed to the related PACE Charge Lien Owner in accordance with the PACE Charge Lien Transfer Agreement.

  • The Bank shall notify the Servicer as to properties which are subject to Tax Liens owned by the Issuer and/or a PACE Charge Lien Owner and such other trusts.

  • In connection with any such liquidation, any Transferred PACE Charge Liens shall be reconveyed to the related PACE Charge Lien Owner in accordance with the related PACE Charge Lien Transfer Agreement.

  • Any PACE Charge Lien that would qualify for a charge-off in accordance with Section 2.09(a) or (b) hereof shall be reconveyed to the related PACE Charge Lien Owner in accordance with the PACE Charge Lien Transfer Agreement.

  • In connection with any such reconveyance of a PACE Charge Lien that was sold to the Trust, the Lien Owner shall repurchase such PACE Charge Lien at a repurchase price equal to the purchase price paid by the Trust to the Lien Owner for such PACE Charge Lien pursuant to the related Purchase and Sale Agreement, less any Collections received by the Trust in respect of such Defective PACE Charge Lien.

  • The obligations of the Lien Owner under this Section 3.01(b)(ii) shall constitute the sole remedies available to the Trust with respect to a Defective PACE Charge Lien.

  • If a global PACE Charge Lien Certificate is delivered in connection with the transfer or sale of PACE Charge Liens to the Trust, the Lien Owner shall, upon request by the Trust or its designee, cooperate with the Trust and/or its designee in exchanging such global PACE Charge Lien Certificate for confirmatory individual PACE Charge Lien Certificates.

  • The Trust and/or its designee shall coordinate as appropriate with the Lien Owner to facilitate such transfer of such PACE Charge Lien hereunder and under the Servicing Agreement.

  • Any amounts paid to the Issuer Trustee or Wilmington Trust Company pursuant to this Article VIII, the Fee Agreement, Section 4.02 of the Purchase Agreements or the Assigned Purchase Agreements or Sections 3.06, 3.07 or 3.08 of one or more of the PACE Charge Lien Transfer Agreements shall at no time be included in the Trust Estate.

  • If the Trust and/or its designee elects to transfer a PACE Charge Lien back to the Lien Owner, the Trust and/or its designee shall coordinate as appropriate with the Lien Owner to facilitate such transfer of such PACE Charge Lien hereunder and under the Servicing Agreement.

Related to PACE Charge Lien

  • Finance Charge Receivables means Receivables created in respect of periodic finance charges, late fees, returned check fees and all other similar fees and charges billed or accrued and unpaid on an Account.

  • Finance Charge Collections means Collections of Finance Charge Receivables.

  • Finance Charge Shortfall shall have the meaning specified in Section 4.09.

  • Available Finance Charge Collections means, for any Monthly Period, an amount equal to the sum of (a) the Investor Finance Charge Collections for such Monthly Period, (b) the Series 2012-1 Excess Finance Charge Collections for such Monthly Period, (c) Principal Accumulation Investment Proceeds, if any, with respect to the related Transfer Date, (d) interest and earnings on funds on deposit in the Reserve Account which will be deposited into the Finance Charge Account on the related Payment Date to be treated as Available Finance Charge Collections pursuant to Section 4.10(a), and (e) amounts, if any, to be withdrawn from the Reserve Account which will be deposited into the Finance Charge Account on the related Transfer Date to be treated as Available Finance Charge Collections pursuant to Section 4.10(c).

  • Finance charge means that term as defined in section 106 of the truth in lending act, 15 USC 1605.

  • Excess Finance Charge Collections means collections of Finance Charge Receivables and certain other amounts allocable to the Certificateholders’ Interest of any Excess Allocation Series in excess of the amounts necessary to make required payments with respect to such series (including payments to the provider of any related Series Enhancement) that are payable out of collections of Finance Charge Receivables.

  • Investor Finance Charge Collections means, with respect to any Distribution Date, an amount equal to (a) the product of (i) the Floating Allocation Percentage for the related Due Period and (ii) Allocable Finance Charge Collections deposited in the Collection Account for the related Due Period, minus (b) the aggregate amount of Servicer Interchange for the related Due Period.

  • Collateral Deficiency Amount With respect to any AB Modified Loan as of any date of determination, the excess of (i) the Stated Principal Balance of such AB Modified Loan (taking into account the related junior note(s) included therein), over (ii) the sum of (in the case of a Loan Combination, solely to the extent allocable to the subject Mortgage Loan) (x) the most recent Appraised Value for the related Mortgaged Property or Mortgaged Properties, plus (y) solely to the extent not reflected or taken into account in such Appraised Value and to the extent on deposit with, or otherwise under the control of, the lender as of the date of such determination, any capital or additional collateral contributed by the related Mortgagor at the time the Mortgage Loan became (and as part of the modification related to) such AB Modified Loan for the benefit of the related Mortgaged Property or Mortgaged Properties (provided, that in the case of an Outside Serviced Mortgage Loan, the amounts set forth in this clause (y) will be taken into account solely to the extent relevant information is received by the Special Servicer), plus (z) any other escrows or reserves (in addition to any amounts set forth in the immediately preceding clause (y)) held by the lender in respect of such AB Modified Loan as of the date of such determination. The Certificate Administrator, the Master Servicer and the Operating Advisor (other than with respect to any Collateral Deficiency Amount calculations that the Operating Advisor is required to review, recalculate and/or verify pursuant to Section 3.29) shall be entitled to conclusively rely on the Special Servicer’s calculation or determination of any Collateral Deficiency Amount.

  • Prepayment Charge Period As to any Mortgage Loan, the period of time during which a Prepayment Charge may be imposed.

  • Facility Charge means one percent (1%) of the Maximum Term Loan Amount.

  • Collateral Charge-Offs shall have the meaning specified in subsection 4.06(c).

  • Debt collection means the collection of unpaid tolls and applicable administrative fees by (i) 750 retention of a third-party debt collector or (ii) collection practices undertaken by employees of a toll 751 facility operator that are materially similar to a third-party debt collector.

  • Reallocated Collateral Principal Collections means, with respect to any Transfer Date, Collections of Principal Receivables applied in accordance with subsections 4.12(a) and (b) in an amount not to exceed the product of (a) the Collateral Allocation with respect to the Monthly Period relating to such Transfer Date and (b) the Investor Percentage with respect to the Monthly Period relating to such Transfer Date and (c) the amount of Collections of Principal Receivables with respect to the Monthly Period relating to such Transfer Date; provided, however, that such amount shall not exceed the Collateral Interest after giving effect to any Collateral Charge-Offs for such Transfer Date.

  • Collateral Shortfall Amount is defined in Section 8.1.

  • Finance Charge Account is defined in Section 4.9(a).

  • Penalty Charge Notice means a notice served by a Civil Enforcement Officer pursuant to the provisions of section 78 of the 2004 Act and supporting regulations;

  • Class A-P Collection Shortfall With respect to the Cash Liquidation or REO Disposition of a Discount Mortgage Loan and any Distribution Date, the excess of the amount described in Section 4.02(b)(i)(C)(1) over the amount described in Section 4.02(b)(i)(C)(2).

  • Available Funds Shortfall As defined in Section 3.03(b)(ii)(A).

  • Reallocated Investor Finance Charge Collections means that portion of Group I Investor Finance Charge Collections allocated to Series 1997-1 pursuant to Section 4.10.

  • Shared Principal Collections means, with respect to any Transfer Date, either (a) the amount allocated to the Investor Certificates which may be applied to the Series Principal Shortfall with respect to other outstanding Series in Group One or (b) the amounts allocated to the investor certificates of other Series in Group One which the applicable Supplements for such Series specify are to be treated as "Shared Principal Collections" and which may be applied to cover the Series Principal Shortfall with respect to the Investor Certificates.

  • Prepayment Charge Schedule A data field in the Mortgage Loan Schedule attached hereto as Exhibit A which sets forth the amount or method of calculation of the Prepayment Charge and the term during which such Prepayment Charge is imposed with respect to a Mortgage Loan.

  • Collateral Monthly Interest means the monthly interest distributable in respect of the Collateral Interest as calculated in accordance with subsection 4.06(c).

  • Principal Collections means Collections of Principal Receivables.

  • Available Principal Collections means, with respect to any Monthly Period, an amount equal to the sum of (a) (i) an amount equal to the Principal Allocation Percentage of Series 2018-2 Allocable Principal Collections received during such Monthly Period minus (ii) the amount of Reallocated Principal Collections with respect to such Monthly Period which pursuant to Section 4.08 are required to fund the Required Amount for the related Distribution Date, (b) any Shared Principal Collections with respect to other Series that are allocated to Series 2018-2 in accordance with Section 4.04 of the Agreement and Section 4.11 of this Supplement, and (c) any other amounts which pursuant to Section 4.05 or 4.07 of this Supplement are to be treated as Available Principal Collections with respect to the related Distribution Date.

  • Servicer Prepayment Charge Payment Amount The amounts payable by the Servicer in respect of any waived Prepayment Charges pursuant to Section 2.05 or Section 3.01.

  • Indenture Collateral has the meaning set forth in the Granting Clause of the Indenture.