Hello again,
I have done a few more tests and here are my findings:
1- Setup bond using ignition (file attached in the previous post)
2- Everything works as expected - Connected to the network (can SSH to it)
3- Reboot machine
4- Everything still working as expected - Connected to the network (can SSH to it)
5- systemctl restart systemd-networkd
6- Attached image shows the output. It then keeps showing the No 802.3ad response warning in a loop.
7- ifconfig shows that the bond interface lost the IP address.