PACE Financing Clause Samples
A PACE Financing clause outlines the terms and conditions under which a property owner may obtain financing through a Property Assessed Clean Energy (PACE) program. This clause typically specifies the types of improvements eligible for PACE financing, such as energy efficiency upgrades or renewable energy installations, and details how the repayment will be structured as a special assessment on the property tax bill. Its core practical function is to facilitate access to funding for property improvements that promote energy efficiency, while ensuring that repayment obligations are clearly tied to the property rather than the individual owner, thereby addressing both financing and transferability concerns.
PACE Financing. The Borrower has not entered into any Property Assessed Clean Energy (“PACE”) or similar energy efficiency or renewable energy financing and has no knowledge of any pending assessments or adjustments in connection therewith.
PACE Financing. “PACE Financing” means financing made available to the owner(s) of a Qualified Property for a Qualifying Improvement.
PACE Financing. 12 8.11 Collateral. ............................................................................................... 13 8.12
PACE Financing. With respect to any Note that is secured by real property, the Borrower has not entered into any Property Assessed Clean Energy (“PACE”) or similar energy efficiency or renewable energy financing and has no knowledge of any pending assessments or adjustments in connection therewith.