Attornment With Respect to the Pipelines Agreement. Upon the occurrence of any Foreclosure Event, Hxxxx shall attorn to the Purchaser, the Purchaser shall accept such attornment, and the Purchaser and Hxxxx shall be bound to each other under all of the terms, provisions, covenants and conditions of the Pipelines Agreement; provided, that, except for Hxxxx’s express rights and remedies under the Pipelines Agreement, in no event shall the Purchaser be liable for any act, omission, default, misrepresentation, or breach of warranty of HEP, Grantor or any other Partnership Entity (as defined in the Pipelines Agreement) (or any owner of the Mortgaged Property prior to such Purchaser) or obligations accruing prior to Purchaser’s actual ownership of the Property. The provisions of this Agreement regarding attornment by Hxxxx shall be self-operative and effective without the necessity of execution of any new document on the part of any party hereto or the respective heirs, legal representatives, successors or assigns of any such party. Hxxxx agrees, however, to execute and deliver upon the request of Purchaser, any instrument or certificate which in the reasonable judgment of Purchaser may be necessary or appropriate to evidence such attornment.
Appears in 3 contracts
Samples: Mortgage, Line of Credit Mortgage and Deed of Trust (Holly Energy Partners Lp), Mortgage, Line of Credit Mortgage and Deed of Trust (Holly Energy Partners Lp), Mortgage, Line of Credit Mortgage and Deed of Trust (Holly Energy Partners Lp)
Attornment With Respect to the Pipelines Agreement. Upon the occurrence of any Foreclosure Event, Hxxxx Xxxxx shall attorn to the Purchaser, the Purchaser shall accept such attornment, and the Purchaser and Hxxxx Xxxxx shall be bound to each other under all of the terms, provisions, covenants and conditions of the Pipelines Agreement; provided, that, except for HxxxxXxxxx’s express rights and remedies under the Pipelines Agreement, in no event shall the Purchaser be liable for any act, omission, default, misrepresentation, or breach of warranty of HEP, Grantor or any other Partnership Entity (as defined in the Pipelines Agreement) (or any owner of the Mortgaged Property prior to such Purchaser) or obligations accruing prior to Purchaser’s actual ownership of the Property. The provisions of this Agreement regarding attornment by Hxxxx Xxxxx shall be self-operative and effective without the necessity of execution of any new document on the part of any party hereto or the respective heirs, legal representatives, successors or assigns of any such party. Hxxxx Xxxxx agrees, however, to execute and deliver upon the request of Purchaser, any instrument or certificate which in the reasonable judgment of Purchaser may be necessary or appropriate to evidence such attornment.
Appears in 1 contract
Samples: Mortgage, Line of Credit Mortgage and Deed of Trust (Holly Energy Partners Lp)