Common use of Required Bonding Clause in Contracts

Required Bonding. Buyer shall obtain all required bonds and other surety arrangements relating to the ownership or operation of the Assets necessary to cause Seller’s bonds and surety arrangements with respect to the Assets to be released at and as of the Closing. No later than 5 Business Days prior to Closing, Buyer shall provide Seller with reasonably satisfactory evidence that all such bonds and surety arrangements have been obtained and will be in place as of the Closing.

Required Bonding. Buyer Purchaser shall obtain all required bonds and other surety arrangements relating to the ownership ownership, use, or operation of the Acquired Assets necessary to cause Seller’s and any of its respective Affiliates’ bonds and surety arrangements with respect to the Acquired Assets to be released at and as of the Closing. No Not later than 5 five (5) Business Days prior to before the Closing, Buyer Purchaser shall provide Seller with reasonably satisfactory evidence that all such bonds and surety arrangements have been obtained and will be in place unconditionally effective as of the ClosingClosing Date.