PACE Loan definition

PACE Loan means (x) any “Property-Assessed Clean Energy loan” or (y) any other indebtedness, without regard to the name given to such indebtedness, which is (i) incurred for improvements to the Property for the purpose of increasing energy efficiency, increasing use of renewable energy sources, resource conservation, or a combination of the foregoing, and (ii) repaid through multi-year assessments against the Property.

PACE Loan means a loan made by a PACE lender to a borrower under this Section for energy efficiency improvements, water efficiency improvements, or renewable resource applications made to or installed on a subject property.

PACE Loan means any Property-Assessed Clean Energy loan or any similar financing.

Examples of PACE Loan in a sentence

• Therefore, without the prior written consent of Lender, but, in each instance, subject to the provisions of Article 7, neither Borrower nor any other Person having a direct or indirect ownership or beneficial interest in Borrower shall sell, convey, mortgage, grant, bargain, encumber, pledge, assign or transfer the Property or any part thereof, or any interest, direct or indirect, in Borrower, whether voluntarily or involuntarily or enter into or subject the Property to a PACE Loan (a “Transfer”).

• The lien resulting from any unpaid and delinquent PACE Loan payments would have property tax lien status.

• Borrower shall not, and shall not permit Mortgage Borrower or CPLV Tenant to, enter into any PACE Loan without the prior written consent of Administrative Agent.

• Attach:☐ Baseline energy audit performed on the property☐ Final scope of work, including useful life calculations of individual measures☐ Cash flow analysis using LEP model☐ Energy savings guarantee contract between project developer/contractor and property owner PACE Loan Details1.

• As of the related Mortgage loan origination date, the amount outstanding on the Known PACE Loan including all interest and administrative expenses was $866,043.38.

More Definitions of PACE Loan

PACE Loan means a loan made by a PACE lender to a borrower under this section for energy- efficiency improvements made to a commercial property.

PACE Loan means any assessment, bond, loan, financing, or other debt incurred pursuant to “property assessed clean energy, “special energy financing district,” or similar provisions of applicable laws.

PACE Loan means a loan, secured by a PACE mortgage, made to the owner(s) of a qualifying property pursuant to a PACE program to fund energy saving improvements.

PACE Loan. A loan made to a Property Owner pursuant to the PACE Program. “PACE Program”: The property assessed clean energy program established by the City pursuant to New York General Municipal Law, Section 119-gg and Title 11, Chapter 30 of the New York City Administrative Code.

PACE Loan means (a) any "Property‑Assessed Clean Energy" loan or (b) any other indebtedness, without regard to the name given thereto, which is (i) incurred for improvements to the Property for the purpose of increasing energy efficiency, increasing use of renewable energy sources, resource conservation, or a combination of the foregoing, and (ii) repaid through multi‑year assessments against the Property.

PACE Loan. A loan to finance energy efficient improvements and renewable energy projects, or other similar initiatives, and commonly known as a “Property-Assessed Clean Energy (PACE) Loan”, as the same may now or hereafter be more particularly defined and described in any applicable Legal Requirements or promulgated by any Governmental Authority.

PACE Loan means a loan made by a PACE lender to a borrower under this section for