Common use of Attornment With Respect to the Throughput Agreement Clause in Contracts

Attornment With Respect to the Throughput Agreement. Upon the occurrence of any Foreclosure Event, Xxxxx shall attorn to the Purchaser, the Purchaser shall accept such attornment, and the Purchaser and Xxxxx shall be bound to each other under all of the terms, provisions, covenants and conditions of the Throughput Agreement; provided, that, except for Holly’s express rights and remedies under the Throughput Agreement, in no event shall the Purchaser be liable for any act, omission, default, misrepresentation, or breach of warranty of Grantor or ____________________ (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 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. 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 2 contracts

Samples: LLC Interest Purchase Agreement (Holly Energy Partners Lp), LLC Interest Purchase Agreement (HollyFrontier Corp)

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Attornment With Respect to the Throughput Agreement. Upon the occurrence of any Foreclosure Event, Xxxxx shall attorn to the Purchaser, the Purchaser shall accept such attornment, and the Purchaser and Xxxxx shall be bound to each other under all of the terms, provisions, covenants and conditions of the Throughput Agreement; provided, that, except for Holly’s express rights and remedies under the Throughput Agreement, in no event shall the Purchaser be liable for any act, omission, default, misrepresentation, or breach of warranty of Grantor or ____________________ (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 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. 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 (Holly Energy Partners Lp)

Attornment With Respect to the Throughput Agreement. Upon the occurrence of any Foreclosure Event, Xxxxx shall attorn to the Purchaser, the Purchaser shall accept such attornment, and the Purchaser and Xxxxx shall be bound to each other under all of the terms, provisions, covenants and conditions of the Throughput Agreement; provided, that, except for HollyXxxxx’s express rights and remedies under the Throughput Agreement, in no event shall the Purchaser be liable for any act, omission, default, misrepresentation, or breach of warranty of Grantor or ____________________ (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 Xxxxx shall be self-operative 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. 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 and Deed of Trust (Holly Energy Partners Lp)

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Attornment With Respect to the Throughput Agreement. Upon the occurrence of any Foreclosure Event, Xxxxx shall attorn to the Purchaser, the Purchaser shall accept such attornment, and the Purchaser and Xxxxx shall be bound to each other under all of the terms, provisions, covenants and conditions of the Throughput Agreement; provided, that, except for HollyXxxxx’s express rights and remedies under the Throughput Agreement, in no event shall the Purchaser be liable for any act, omission, default, misrepresentation, or breach of warranty of Grantor or ____________________ Operating (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 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. 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)

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