LC Mortgages definition
LC Mortgages means all “Mortgages” as defined in the LC Credit Agreement.
Examples of LC Mortgages in a sentence
Borrower, to secure the prompt payment to Lender of the Obligations relating to the SCEM Letter of Credit shall execute and deliver Mortgages, in form and substance satisfactory to Lender, upon the Real Property and Hydrocarbon Reserves described on Exhibit A to Amendment No. 1 (the "SCEM LC Mortgages").
The reimbursement obligations of Borrower related to the SCEM Letter of Credit shall be secured solely by the SCEM LC Mortgages (as defined, pursuant to the amendment to the Credit Agreement effected by this Amendment No. 1, in Section 6(c) of the Credit Agreement as so amended) on a basis which is subordinate to Borrower's obligations under the Oil & Gas Credit Facility.