Common use of Governmental Bonds Clause in Contracts

Governmental Bonds. ▇▇▇▇▇ acknowledges that the bonds, letters of credit and guarantees described on Schedule 7.05 (a) posted by Seller or its Affiliates with Governmental Authorities and relating to the Assets, are not transferable and will not be transferred to Buyer. On or before the Closing Date, Buyer shall obtain, or cause to be obtained in the name of Buyer, replacements for such bonds, letters of credit and guarantees, to the extent such replacements are necessary to permit the cancellation of the bonds, letters of credit and guarantees posted by Seller and/or its Affiliates. In addition, at or prior to Closing, Buyer shall deliver to Seller evidence of the posting of such bonds, letters of credit and guarantees or other security with all applicable Governmental Authorities meeting the requirements of such authorities to own and, where appropriate, operate, the Assets, such required bonds, letters of credit and guarantees being more particularly described on Schedule 7.05 (b).

Governmental Bonds. ▇▇▇▇▇ Buyer acknowledges that the bonds, letters of credit and guarantees described on Schedule 7.05 (a7.05(a) posted by Seller or its Affiliates with Governmental Authorities and relating to the Assets, are not transferable and will not be transferred to Buyer. On or before the Closing Date, Buyer shall obtain, or cause to be obtained in the name of Buyer, replacements for such bonds, letters of credit and guarantees, to the extent such replacements are necessary to permit the cancellation of the bonds, letters of credit and guarantees posted by Seller and/or its Affiliates. In addition, at or prior to Closing, Buyer shall deliver to Seller evidence of the posting of such bonds, letters of credit and guarantees or other security with all applicable Governmental Authorities meeting the requirements of such authorities to own and, where appropriate, operate, the Assets, such required bonds, letters of credit and guarantees being more particularly described on Schedule 7.05 (b7.05(b).

Governmental Bonds. ▇▇▇▇▇ Buyer acknowledges that the bonds, letters of credit and guarantees described on Schedule 7.05 (a7.05(a) posted by Seller or its Affiliates with Governmental Authorities and relating to the AssetsAsset, are not transferable and will not be transferred to Buyer. On or before the Closing Date, Buyer shall obtain, or cause to be obtained in the name of Buyer, replacements for such bonds, letters of credit and guarantees, to the extent such replacements are necessary to permit the cancellation of the bonds, letters of credit and guarantees posted by Seller and/or its Affiliates. In addition, at or prior to Closing, Buyer shall deliver to Seller evidence of the posting of such bonds, letters of credit and guarantees or other security with all applicable Governmental Authorities meeting the requirements of such authorities to own and, where appropriate, operate, the AssetsAsset, such required bonds, letters of credit and guarantees being more particularly described on Schedule 7.05 (b7.05(b).