NOTICE OF CHANGE OF OWNERSHIP. Purchaser will take all necessary steps to ensure that it is recognized as the owner of the Assets. If Seller is the principal on any financial assurance (including a bond) relating to the Assets, which financial assurance is required by any law, rule or regulation, then Purchaser will secure replacement financial assurance in the required amount and deliver it to the regulatory body requiring such assurance, to the end that Seller's financial assurance is released and discharged.
Appears in 2 contracts
Sources: Purchase and Sale Agreement (Energy Partners LTD), Purchase and Sale Agreement (Energy Partners LTD)