Examples of XXXX System in a sentence
The Customer Contract provides that, upon the sale of the residence connected to the related PV System and/or XXXX System, as applicable, the Consumer Obligor of such Customer Contract must pre-pay the Customer Contract unless the purchaser of the residence: (a) meets Originator’s (or the related approved Dealer’s) underwriting criteria; (b) executes and delivers to the Servicer a written assumption of the Customer Contract; and (c) begins timely performance of the obligations thereunder.
The Customer Contract, its related ancillary agreements and the rights with respect to the PV System and/or XXXX System, as applicable, are freely assignable and a security interest in the PV System and/or XXXX System, as applicable, may be granted by the Borrower without the consent of any person, except any such consent which may have been obtained.
The property securing such Solar Loan is located in a state of the United States or, if such property includes a XXXX System, in a state of the United States, Puerto Rico or Guam.
The related Consumer Obligor is required to maintain or, in the case of PV Systems and/or XXXX Systems located in Puerto Rico, the Sponsor maintains liability insurance and property insurance and the coverage limits are sufficient to cover the full replacement and installation cost of the PV System and/or XXXX System, as applicable.
The related Customer Contract contains enforceable provisions that render the rights and remedies of the lender thereunder adequate for the realization against the related PV System or XXXX System of the benefits of the security provided thereby.
There are no unpaid fees owed to third parties relating to the origination of the related Solar Loan and installation of the related in-service PV System and/or XXXX System, as applicable.
The FICO score with respect to (i) the related initial Consumer Obligor was at least [***] and (ii) any subsequent Consumer Obligor with respect to the related PV System or XXXX System was at least [***] or such Consumer Obligor has provided a security deposit in accordance with the Credit and Underwriting Policy, in each case, at the time such Solar Loan was originated.
With respect to the related PV System and XXXX System (if any), a precautionary fixture filing has been submitted for recordation in the applicable county records or real property registry.
The original outstanding principal balance due under or in respect of a Solar Loan (i) for a PV System, does not exceed $[***], (ii) for PV System and XXXX System, does not exceed $[***] and (iii) for a XXXX System, does not exceed $[***].