Mortgage Coverage. The Administrative Agent shall be reasonably satisfied that, upon recording the Mortgages, in each case, in the appropriate filing offices, it shall have a first priority Lien on at least 85% of the PV-9 of the Borrowing Base Properties.
Appears in 4 contracts
Samples: Senior Secured Revolving Credit Agreement (Silverbow Resources, Inc.), Senior Secured Revolving Credit Agreement (Silverbow Resources, Inc.), Senior Secured Revolving Credit Agreement (Silverbow Resources, Inc.)
Mortgage Coverage. The Administrative Agent shall be reasonably satisfied that, upon recording the MortgagesMortgages of Borrowing Base Properties, in each case, in the appropriate filing offices, it shall have a first priority Lien on at least 85% of the PV-9 PV-10 of the Borrowing Base Properties.
Appears in 2 contracts
Samples: Revolving Credit Agreement (Diversified Energy Co PLC), Revolving Credit Agreement (Diversified Energy Co PLC)
Mortgage Coverage. The Administrative Agent shall be reasonably satisfied that, upon recording the Mortgages, in each case, in the appropriate filing offices, it shall have a first priority Lien on at least 8595% of the PV-9 of the Borrowing Base Properties.
Appears in 1 contract
Samples: Senior Secured Revolving Credit Agreement (Swift Energy Co)
Mortgage Coverage. The Administrative Agent shall be reasonably satisfied that, upon recording the MortgagesMortgages or the execution, in each casedelivery, effectiveness and recording of the Memorandum of Assignment of Mortgages in the appropriate filing offices, it shall have a first priority Lien on at least 8590% of the PV-9 of the Borrowing Base Properties.; provided that Liens permitted by Section 9.03 may exist. (iv)
Appears in 1 contract
Samples: Secured Revolving Credit Agreement (Lilis Energy, Inc.)
Mortgage Coverage. The Administrative Agent shall be reasonably satisfied that, upon recording the Mortgages, in each case, in the appropriate filing offices, it shall have a first priority Lien on at least 85% of the PV-9 PV-10 of the Borrowing Base Properties.
Appears in 1 contract
Samples: Revolving Credit Agreement (Diversified Energy Co PLC)
