Examples of HFC Group in a sentence
As soon as practicable, but in any event within 30 days after receipt of such written notification, HEP shall notify Xxxxx GP or the HFC Group Member in writing that HEP has elected (i) not to cause a HEP Group Member to purchase the Permitted Assets, in which event Xxxxx GP or the HFC Group Member shall be forever free to continue to own or operate such Permitted Assets, or (ii) to cause a HEP Group Member to purchase the Permitted Assets, in which event Section 2.4(b) and Section 2.4(c) shall apply.
Except as provided in this Article II and the Partnership Agreement, Xxxxx GP and each HFC Group Member shall be free to engage in any business activity, including those that may be in direct competition with any HEP Group Member.
For so long as a HFC Group Member owns a controlling interest in the general partner of HEP, and except as permitted by Section 2.2, Xxxxx GP and each HFC Group Member shall be prohibited from engaging in or acquiring a controlling interest in or operating any business having assets or operations engaged in the Restricted Businesses.
Xxxxx GP and the HFC Group Members agree and acknowledge that the HEP Group does not have an adequate remedy at law for the breach by Xxxxx GP and the HFC Group of the covenants and agreements set forth in this Article II, and that any breach by Xxxxx GP and the HFC Group of the covenants and agreements set forth in this Article II would result in irreparable injury to the HEP Group.
Xxxxx GP and the HFC Group Members further agree and acknowledge that any HEP Group Member may, in addition to the other remedies that may be available to the HEP Group, file a suit in equity to enjoin Xxxxx GP and the HFC Group from such breach and hereby consent to the issuance of injunctive relief under this Agreement.