HEP Entity definition
Examples of HEP Entity in a sentence
To the extent that any of the HFC Entities or HEP Entities in fact receive full indemnification payments pursuant to Section 3.2(a)(viii) or Section 3.4(a)(iii) hereof, as the case may be, the HFC Entity or HEP Entity paying such Claim shall be subrogated to the receiving party’s rights with respect to the transaction or event requiring or giving rise to such indemnity.
In the course and scope of performing any HEP Seconded Employee’s job functions for the HEP Entities, the HEP Seconded Employee will be integrated into the organization of the HEP Entities, will report into the HEP Entities’ management structure, and will be under the direct management, supervision, direction and control of the applicable HEP Entity with respect to such HEP Employee’s day-to-day activities.
Terminal and Related Assets (July 13, 2004) $15,000,000 (July 13, 2014) ✓ ✓ (July 13, 2014) ✓ (July 13, 2009) ✓ ✓ No 8” and 10” Lovington/Artesia Intermediate Pipelines (June 1, 2009) $2,500,000 (June 1, 2019) ✓ ✓ (June 1, 2019) ✓ (June 1, 2014) ✓ ✓ No 1 Where subsurface rights are not transferred to the HEP Entities, the HEP Entities have no liabilities for subsurface contamination unless caused by an HEP Entity.
At the Closing, certain employees of HFC at each Refinery whose responsibilities relate to the Assets will be seconded to the applicable HEP Entity solely pursuant to the Amended and Restated Services and Secondment Agreement.
To the extent that any of the HFS Entities or HEP Entities in fact receive full indemnification payments pursuant to Section 3.2(a)(viii) or Section 3.4(a)(iii) hereof, as the case may be, the HFS Entity or HEP Entity paying such Claim shall be subrogated to the receiving party’s rights with respect to the transaction or event requiring or giving rise to such indemnity.
The Parties acknowledge that the payroll and benefits for such employees shall be processed and paid by the appropriate HollyFrontier Entity, and the cost of such payroll and benefits shall be reimbursed by the appropriate HEP Entity in accordance with the provisions of the Omnibus Agreement.
No HEP Entity is aware of the existence of any fact or circumstance, after reasonable diligence, or has taken or agreed to take any action, that could reasonably be expected to prevent or impede the ▇▇▇▇▇▇▇▇ Contribution from qualifying for the Intended Tax Treatment.
At the Closing, certain employees of HFC at the Refinery whose responsibilities relate to the Assets will be seconded to the applicable HEP Entity solely pursuant to the Amended and Restated Services and Secondment Agreement.
Each HEP Entity is, and during the thirty-six (36) months prior to the date of this Agreement has been, in compliance with all Laws applicable to such HEP Entity or its assets, except (a) as disclosed in any HEP SEC Documents or (b) where the failure to comply with such Laws would not have or not reasonably be expected to have a HEP Material Adverse Effect.
During the thirty-six (36) months prior to the date of this Agreement, no HEP Entity has received written notice of or, to the Knowledge of HEP, has been under investigation with respect to, any claimed material noncompliance with such Laws or binding Order of any Governmental Authority on the part of any HEP Entity, except where such noncompliance would not have or not be reasonably expected to have a HEP Material Adverse Effect.