Oil and Gas Properties

Oil and Gas Properties. All properties described in Exhibit 1 whether such properties are in the nature of fee interests, leasehold interests, working interests, farmout rights, royalty, overriding royalty or other non-working or carried interests, operating rights or other mineral rights of every nature and any rights that arise by operation of law or otherwise in all properties and lands pooled, unitized, communitized or consolidated with such properties

Oil and Gas Properties. In the event that additional Oil and Gas Properties need to be mortgaged in order to satisfy the requirements set forth in the preceding sentence, then the Borrower shall, and shall cause its Credit Parties to, grant, within (i) 60 days after delivery of the applicable Reserve Report or (ii) 30 days after the Fifth Amendment Effective Date, as applicable (in each case, or such longer period as the Administrative Agent may agree in its reasonable discretion), to the Administrative Agent as... security for the Obligations a first priority Lien (subject to Liens permitted by Section 10.2) on additional Oil and Gas Properties not already subject to a Lien of the Security Documents sufficient to meet such requirement. View More