Common use of Underwriting Standards Clause in Contracts

Underwriting Standards. (a) The Lender shall utilize, as a minimum, the underwriting standards set forth in the Program Guidelines and other applicable Program Requirements (the “PACE Minimum Underwriting Standards”). Prior to the execution of each Program Financing Agreement, the Administrator reserves the right to determine whether such PACE Minimum Underwriting Standards have been satisfied. The Lender may develop additional underwriting standards that comply with applicable law, the Program Guidelines and other applicable Program Requirements (including the PACE Minimum Underwriting Standards) and this Agreement.

Underwriting Standards. (a) The Lender shall utilize, as a minimum, the underwriting standards set forth in the Program Guidelines and other applicable Program Requirements (the “PACE Minimum Underwriting U nderwriting Standards”). Prior to the execution of each Program Financing Agreement, the Administrator reserves the right to determine whether such PACE Minimum Underwriting Standards have been satisfied. The Lender may develop additional underwriting standards that comply with applicable law, the Program Guidelines and other applicable Program Requirements (including the PACE Minimum Underwriting Standards) and this Agreement.