Terms Used In Tennessee Code > Title 68 > Environmental Protection > Chapter 205 - Commercial Property Assessed Clean Energy and Resilience Act

• Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
• Capital provider: means a private third-party entity, including its designee, successor, and assigns, that makes or funds C-PACER financing, including refinancing, under this chapter. See Tennessee Code 68-205-102
• Code: includes the Tennessee Code and all amendments and revisions to the code and all additions and supplements to the code. See Tennessee Code 1-3-105
• Collector: includes any person entrusted with the collection of public revenue. See Tennessee Code 1-3-105
• Commercial property: means :
  (A) Privately owned commercial, industrial, or agricultural real property. See Tennessee Code 68-205-102
• Contract: A legal written agreement that becomes binding when signed.
• Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
• Deed: The legal instrument used to transfer title in real property from one person to another.
• Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
• Financing: means financing and refinancing for qualified projects under this chapter. See Tennessee Code 68-205-102
• Financing agreement: means the contract under which a property owner agrees to repay a capital provider for the C-PACER financing, including, but not limited to, details of finance charges, fees, debt servicing, accrual of interest and penalties, and terms relating to treatment of prepayment and partial payment, billing, collection, and enforcement of the C-PACER financing. See Tennessee Code 68-205-102
• Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. ^{Source: OCC}
• Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). ^{Source: OCC}
• Lien: A claim against real or personal property in satisfaction of a debt.
• Local government: means a county, metropolitan government, municipality, or other political subdivision of this state. See Tennessee Code 68-205-102
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• Person: includes a corporation, firm, company or association. See Tennessee Code 1-3-105
• program: means a commercial property assessed clean energy program established under this chapter. See Tennessee Code 68-205-102
• Program administrator: means the entity designated by a local government to administer a C-PACER program, including:
  (A) A department or individual within a local government. See Tennessee Code 68-205-102
• Program guidebook: means a comprehensive document that illustrates the applicable program and establishes appropriate guidelines, specifications, underwriting and approval criteria, and standard application forms consistent with the administration of a program and not detailed in this chapter, including:
  (A) A form assessment contract between the local government and the property owner specifying the terms of assessment under the program, financing provided by a third party, and remedies for default or foreclosure. See Tennessee Code 68-205-102
• Project application: means an application submitted for a program to demonstrate that a proposed project qualifies for C-PACER financing and for a C-PACER assessment and lien. See Tennessee Code 68-205-102
• Property: includes both personal and real property. See Tennessee Code 1-3-105
• Property owner: means the owner or owners on title, duly recorded, of a commercial property. See Tennessee Code 68-205-102
• Qualified improvement: means a permanent improvement installed and affixed to commercial property and intended to:
  (A) Decrease energy consumption or demand through the use of efficiency technologies, products, or activities that reduce or support the reduction of energy consumption. See Tennessee Code 68-205-102
• Qualified project: means a project approved by the program administrator, involving the installation or modification of a qualified improvement, including new construction or the adaptive reuse of eligible property with a qualified improvement, and including qualified improvements installed no more than two (2) years prior to the date of application. See Tennessee Code 68-205-102
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• real property: include lands, tenements and hereditaments, and all rights thereto and interests therein, equitable as well as legal. See Tennessee Code 1-3-105
• Record: means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in a perceivable form. See Tennessee Code 1-3-105
• Record owner: means the owner listed on the property's legal documents on file or the owner of an estate for years created pursuant to a written ground lease agreement or similar agreement. See Tennessee Code 68-205-102
• Region: means a geographical area as determined by a local government pursuant to §. See Tennessee Code 68-205-102
• State: when applied to the different parts of the United States, includes the District of Columbia and the several territories of the United States. See Tennessee Code 1-3-105
• written: includes printing, typewriting, engraving, lithography, and any other mode of representing words and letters. See Tennessee Code 1-3-105