CoPACE Loan definition
Examples of CoPACE Loan in a sentence
Capital Provider from time to time following an uncured event of default by Guarantor hereunder may bring such an action or commence such arbitration proceeding, regardless of whether Capital Provider has first exercised any of the above remedies, or whether Capital Provider has exhausted any or all security for the CoPACE Loan under the terms of the CoPACE Transaction Documents.
Capital Provider in its sole discretion may sell or assign participations or other interests in the CoPACE Loan and this Guaranty, in whole or in part, all without notice to or the consent of Guarantor and without affecting Guarantor’s obligations under this Guaranty.
Guarantor’s obligations under this Guaranty are independent of those of Property Owner on the CoPACE Loan and are for the benefit of Capital Provider and not the District (as defined in the Financing Agreement).
If any lawsuit, reference or arbitration is commenced which arises out of, or which relates to this Guaranty, the CoPACE Transaction Documents or the CoPACE Loan, the prevailing party shall be entitled to recover from each other party such sums as the court (but not the jury) or arbitrator may adjudge to be reasonable attorneys’ fees (including allocated costs for services of in-house counsel) in the action or proceeding, in addition to costs and expenses otherwise allowed by law.
Guarantor shall not be entitled to enforce or receive payment of any sums hereby subordinated until the CoPACE Loan and any obligations of Property Owner under the Disbursement Agreement have been paid in full and any such sums received in violation of this Guaranty shall be received by Guarantor in trust for Capital Provider.
Guarantor acknowledges that it expects to benefit from Capital Provider’s extension of the CoPACE Loan to Property Owner because of its relationship to Property Owner, and that it is executing this Guaranty in consideration of that anticipated benefit.
Capital Provider’s rights under this Guaranty shall not be exhausted by any action by Capital Provider until the CoPACE Loan has been paid in full.
The CoPACE Loan is being made pursuant to the Assessment and Financing Agreement of even date herewith (the “Financing Agreement”), the proceeds of which will be used to finance such New Energy Improvements and which is secured by, among other things, a special CoPACE Assessment (the “CoPACE Assessment”) and accompanying lien (the “CoPACE Lien”) on the property located at [INSERT PROPERTY ADDRESS] (the “Property”) pursuant to the terms of the CoPACE Act.
In this Guaranty, the word “Property Owner” includes both the named Property Owner and any other person who at any time assumes or otherwise becomes primarily liable for all or any part of the obligations of the named Property Owner on the CoPACE Loan.
Notwithstanding the foregoing Employer shall supply Employee, at Employer's cost, Standard and Major Medical Insurance.