Examples of PACE Financing Documents in a sentence
The Administrator will set the amount of the PACE Charge to appear semi-annually on the related Borrower’s Statement of Account based on such PACE Charge Payment Schedule, as further provided in the related PACE Financing Documents.
The Administrator has no fiduciary or other special relationship with or duty to the Lender and none is created by any PACE Financing Documents related to a Loan.
The Administrator shall be fully protected and have no liability to any person or entity for acting or refraining from acting hereunder in accordance with the written instructions of the Lender; provided, that the Administrator shall not be required in any event to act, or to refrain from acting, in any manner which is contrary to any PACE Financing Documents, the Program Guidelines, any Program Requirements, advice of any legal counsel (including counsel for the Lender) or applicable law.
As used herein, the term “Costs” shall mean: (a) the costs of any and all “Eligible Improvements” (as defined in the Program Guidelines) for the Project; and (b) any fees (as outlined in Article VIII) payable by the Borrower in connection with the closing of the Loan and any other fees, costs or expenses payable by the Borrower in accordance with the PACE Financing Documents, including capitalized interest, which may be financed under the Loan in accordance with the Program Requirements.
In performing its obligations hereunder, the Administrator shall use the same level of care as it uses for similar transactions but shall not be liable to the Lender for any action taken or omitted to be taken by it hereunder or pursuant hereto, except for the Administrator’s failure to make sums remitted to the Administrator by the City’s Department of Finance available to the Lender as required under this Agreement and the other applicable PACE Financing Documents.
Nothing contained in any PACE Financing Documents, and no action taken or omitted pursuant to such PACE Financing Documents, is intended or shall be construed to create any partnership, joint venture, association, or special relationship between the Administrator and the Lender.
In addition, the Lender shall promptly notify the Administrator of any judicial proceeding(s) against the Borrower or in respect of the Property to enforce the Program Financing Agreement, any other PACE Financing Documents and or any PACE Charges levied against the Property, including, but not limited to, foreclosure actions, breach of contract actions and/or any other suit on the debt.
Except as otherwise provided in this Agreement and except as otherwise provided in other PACE Financing Documents by a specific reference to the applicable provisions of this Agreement, to the extent there is a conflict between the terms and provisions of this Agreement and any PACE Financing Document, this Agreement shall control.
In no event shall the Lender’s rights and interests under PACE Financing Documents be construed to give the right to control, or be deemed to indicate that the Administrator is in control of, the business, properties, management or operations of the Lender.
Upon the occurrence of any Early Termination Event, in addition to the Administrator’s rights as set forth in Section 10.1, the Administrator is entitled to any and all other remedies available in law or equity, including the right to institute, or cause to be instituted, proceedings for the collection of all amounts then payable on or under this Agreement or any other PACE Financing Documents, enforce any judgment obtained, and collect all monies adjudged due.