Common use of Governmental Bonds Clause in Contracts

Governmental Bonds. The Company acknowledges that none of the bonds, letters of credit and guarantees, if any, posted by Delta or Laramie with Governmental Entities and relating to the Delta Assets and the Laramie Assets, as applicable, are transferable to the Company. At or prior to Closing, the Company shall deliver to Delta or Laramie, as applicable, evidence of the posting of bonds or other security with all applicable Governmental Entities meeting the requirements of such Governmental Entities to own the Delta Assets and Laramie Assets, as applicable.

Governmental Bonds. The Company Laramie acknowledges that none of the bonds, letters of credit and guarantees, if any, posted by Delta or Laramie its affiliates with Governmental Entities and relating to the Delta Assets and the Laramie Assets, as applicable, are transferable to Laramie as the CompanyOperator for the Company under the Management Agreement. At or prior to Closing, the Company Laramie shall deliver to Delta or Laramie, as applicable, evidence of the posting of bonds or other security with all applicable Governmental Entities meeting the requirements of such Governmental Entities to own operate the Delta Assets and Laramie Assets, as applicableon behalf of the Company.