Pledge and Agreement by Government

The Government hereby pledges to and agrees with the holders of any bonds issued under this Article that the Government will not:

(a)Limit or alter the rights hereby vested in the Authority to fulfill the terms of any agreements made with the bondholders,

(b)in any way impair the rights and remedies of the bondholders,

(c)acquire, operate or maintain or permit any instrumentality of the Government or any other public or private agency, entity or person to acquire, operate or maintain within Guam an airport facility competitive with the airports, or

(d)transfer any additional non-airport operating responsibilities to the Authority without providing for the payment of the costs of such additional responsibilities. The Authority is authorized to include this pledge and agreement of the Government in an agreement with the holders of bonds.