Examples of Xxxxx Tulsa in a sentence
The obligations of Xxxxx hereunder shall not be subject to any reduction, limitation, impairment or termination for any reason, including any claim of waiver, release, surrender, alteration or compromise, and shall not be subject to any defense or setoff, counterclaim, recoupment or termination whatsoever by reason of the invalidity, illegality or unenforceability of the Xxxxx Tulsa Payment Obligations or otherwise.
Xxxxx hereby guarantees that the Xxxxx Tulsa Payment Obligations will be paid strictly in accordance with the terms of the Agreement.
Each of the Partnership and the Operating Partnership agrees that Xxxxx Tulsa shall be entitled to enforce directly against the Partnership and the Operating Partnership any of the HEP Tulsa Payment Obligations.
This Section 15 is a continuing guaranty and shall (i) remain in full force and effect until the first to occur of the indefeasible payment in full of all of the HEP Tulsa Payment Obligations, (ii) be binding upon the Partnership, the Operating Partnership, and each of their respective successors and assigns and (iii) inure to the benefit of and be enforceable by Xxxxx Tulsa and their respective successors, transferees and assigns.
Xxxxx Tulsa will use its commercially reasonable efforts to mitigate any reduction in revenues or throughput obligations under this Agreement that would result from such a shut down or reconfiguration.
The obligations of Xxxxx under this Section 14 shall continue to be effective or shall be reinstated, as the case may be, if at any time any payment of any of the Xxxxx Tulsa Payment Obligations is rescinded or must otherwise be returned to Xxxxx Tulsa or any other entity, upon the insolvency, bankruptcy, arrangement, adjustment, composition, liquidation or reorganization of Xxxxx Tulsa or such other entity, or for any other reason, all as though such payment had not been made.
If Xxxxx Tulsa and HEP Tulsa are unable to agree, a new index will be determined by binding arbitration in accordance with Section 13(e), and the same method of adjustment for increases in the new index shall be used to calculate increases in the Pipeline Tariff.
Xxxxx Tulsa shall, during the Term, (i) absorb all volumetric gains in the Pipelines, and (ii) be responsible for all volumetric losses in the Pipelines up to a maximum of 0.5%.
If the above index is no longer published, then Xxxxx Tulsa and HEP Tulsa shall negotiate in good faith to agree on a new index that gives comparable protection against inflation, and the same method of adjustment for increases in the new index shall be used to calculate increases in the Pipeline Tariff.
Xxxxx Tulsa will pay HEP Tulsa the Pipeline Tariff for all quantities of Refined Products shipped on the Pipelines.