b'KOSMOS ENERGY LTD.Notes to Consolidated Financial Statements (Continued)8. Debt (Continued)commitments under the Corporate Revolver. The Company is required to repay certain amounts dueunder the Corporate Revolver with sales of certain subsidiaries or sales of certain assets. If an event ofdefault exists under the Corporate Revolver, the lenders can accelerate the maturity and exercise otherrights and remedies, including the enforcement of security granted pursuant to the Corporate Revolverover certain assets held by us.We were in compliance with the financial covenants contained in the Corporate Revolver as ofSeptember 30, 2018 (the most recent assessment date). The Corporate Revolver contains customarycross default provisions.Revolving Letter of Credit FacilityIn July 2013, we entered into a revolving letter of credit facility agreement (LC Facility). Thesize of the LC Facility was $75.0 million, as amended in July 2015, with additional commitments up to$50.0 million being available if the existing lender increases its commitment or if commitments fromnew financial institutions are added. The LC Facility provides that we maintain cash collateral in anamount equal to at least 75% of all outstanding letters of credit under the LC Facility, provided thatduring the period of any breach of certain financial covenants, the required cash collateral amount shallincrease to 100%.In July 2016, we amended and restated the LC Facility, extending the maturity date to July 2019.Other amendments included increasing the margin from 0.5% to 0.8% per annum on amountsoutstanding, adding a commitment fee payable quarterly in arrears at an annual rate equal to 0.65% onthe available commitment amount and providing for issuance fees to be payable to the lender per newissuance of a letter of credit. We may voluntarily cancel any commitments available under the LCFacility at any time. During the first quarter of 2017, the LC Facility size was increased to$115.0 million and in April 2017, we reduced the size of our LC Facility to $70 million. In February2018, the LC Facility was increased to $73 million to facilitate the issuance of additional letters ofcredit. In July 2018 and December 2018, the LC Facility size was voluntarily reduced to $40.0 millionand$20.0 million, respectively, based on the expiration of several large outstanding letters of credit. Asof December 31, 2018, there were seven outstanding letters of credit totaling $14.4 million under theLC Facility. The LC Facility contains customary cross default provisions.7.875% Senior Secured Notes due 2021During August 2014, the Company issued $300.0 million of Senior Notes and received netproceeds of approximately $292.5 million after deducting discounts, commissions and deferred financingcosts. The Company used the net proceeds to repay a portion of the outstanding indebtedness underthe Facility and for general corporate purposes.During April 2015, we issued an additional $225.0 million of Senior Notes and received netproceeds of $206.8 million after deducting discounts, commissions and other expenses. We used the netproceeds to repay a portion of the outstanding indebtedness under the Facility and for generalcorporate purposes. The additional $225.0 million of Senior Notes have identical terms to the initial$300.0 million Senior Notes, other than the date of issue, the initial price, the first interest paymentdate and the first date from which interest accrued.130'