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for failure to have a reclamation bond in place from <br />financially sound bonding companies in the full requisite <br />amount of $2.9 million. (See, Declaration, ~ 19.) <br />The Debtor Powderhorn and Frontier would have certain <br />administrative appeal rights from such a Notice of Violation. <br />(See, Declaration, ~ 20.) <br />If the Division of Minerals and Geology or the Nlined Land <br />Reclamation Board upholds the Notice of Violation, after <br />Powderhorn's or Frontier's exhaustion of such administrative <br />appeals, then the State of Colorado would revoke the Permit <br />and forfeit the Frontier Bond. (See, Declaration, ~ 21.) <br />Based upon the information presently available to the <br />State of Colorado, there is substantial uncertainty whether <br />Frontier will be able to pay the Frontier Bond in full if the <br />State of Colorado forfeits the Frontier Bond. (See, <br />Declaration, ~ 23.) <br />14 <br />