Governmental Bonds. BG acknowledges that none of the bonds, letters of credit and guarantees, if any, posted by EXCO or its Affiliates (other than any EXCO Sub) with Governmental Authorities and relating to the Subject Interests are transferable in connection with the transactions contemplated hereby. As soon as practicable following the Reorganization, the Parties shall cause Operator to post bonds or other security required to be posted by Operator as the operator of the Subject Interests with any applicable Governmental Authorities meeting the requirements of such authorities to own the Subject Interests.
Appears in 3 contracts
Sources: Membership Interest Transfer Agreement, Membership Interest Transfer Agreement, Membership Interest Transfer Agreement (Exco Resources Inc)