PRC Mortgage definition
PRC Mortgage means the first priority mortgage over the PRC Property granted by the Company in favor of the PRC Collateral Agent, for its benefit and the Lenders, in form and substance reasonably satisfactory to the PRC Collateral Agent and the Company, including any amendment, restatement, modification or supplement thereto.
Examples of PRC Mortgage in a sentence
Without limiting the generality of the foregoing, the Company will, within the time period specified above, deliver the PRC Mortgages and the PRC Mortgage Instruments with respect to the PRC Property to the PRC Collateral Agent, and duly register the PRC Mortgages as first ranking mortgages in favor of the PRC Collateral Agent with Shanghai Real Estate Trading Center or its authorized district branches.