Common use of Payment and Performance Guaranty Clause in Contracts

Payment and Performance Guaranty. Each of the Partnership and the Operating Partnership unconditionally, absolutely, continually and irrevocably guarantees, as principal and not as surety, to Frontier El Dorado the punctual and complete payment in full when due of all amounts due from El Dorado Logistics under the Agreement (collectively, the “El Dorado Logistics Payment Obligations”). Each of the Partnership and the Operating Partnership agrees that Frontier El Dorado shall be entitled to enforce directly against the Partnership and the Operating Partnership any of the El Dorado Logistics Payment Obligations.