Common use of Governmental Bonds Clause in Contracts

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

Governmental Bonds. Laramie The Company acknowledges that none of the bonds, letters of credit and guarantees, if any, posted by Delta or its affiliates Laramie with Governmental Entities and relating to the Delta Assets and the Laramie Assets, as applicable, are transferable to Laramie as the Operator for the Company under the Management AgreementCompany. At or prior to Closing, Laramie 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 operate own the Delta Assets on behalf of the Companyand Laramie Assets, as applicable.