Common use of Payment Guaranty Clause in Contracts

Payment Guaranty. HFC unconditionally, absolutely, continually and irrevocably guarantees, as principal and not as surety, to Seller the punctual and complete payment in full when due of all amounts due from Buyer under this Agreement (collectively, the “Buyer Payment Obligations”). HFC agrees that Seller shall be entitled to enforce directly against HFC any of the Buyer Payment Obligations.

Appears in 2 contracts

Samples: Transfer Agreement (HollyFrontier Corp), Transfer Agreement (Holly Energy Partners Lp)

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Payment Guaranty. HFC unconditionally, absolutely, continually and irrevocably guarantees, as principal and not as surety, to Seller Buyer the punctual and complete payment in full when due of all amounts due from Buyer Indemnified Costs by the Indemnifying Party under this Agreement (collectively, the “Buyer "Payment Obligations"). HFC agrees that Seller Buyer shall be entitled to enforce directly against HFC any of the Buyer Payment Obligations.

Appears in 2 contracts

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

Payment Guaranty. HFC unconditionally, absolutely, continually and irrevocably guarantees, as principal and not as surety, to Seller the punctual and complete payment in full when due of all amounts due from Buyer under this Agreement (collectively, the "Buyer Payment Obligations"). HFC agrees that Seller shall be entitled to enforce directly against HFC any of the Buyer Payment Obligations.

Appears in 2 contracts

Samples: Transfer Agreement (Holly Energy Partners Lp), Refined Products Terminal Transfer Agreement (HollyFrontier Corp)

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Payment Guaranty. HFC unconditionally, absolutely, continually and irrevocably guarantees, as principal and not as surety, to Seller Buyer the punctual and complete payment in full when due of all amounts due from Buyer Indemnified Costs by the Indemnifying Party under this Agreement (collectively, the “Buyer Payment Obligations”). HFC agrees that Seller Buyer shall be entitled to enforce directly against HFC any of the Buyer Payment Obligations.

Appears in 1 contract

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

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