Common use of Effectiveness and Term Clause in Contracts

Effectiveness and Term. This Agreement shall be effective as of the Effective Time, and shall terminate at 12:01 a.m. Dallas, Texas, time on December 1, 2024, unless extended by written mutual agreement of the Parties or as set forth in Section 7 (the “Term). The Party(ies) desiring to extend this Agreement pursuant to this Section 6 shall provide prior written notice to the other Parties of its desire to so extend this Agreement; such written notice shall be provided not more than twenty-four (24) months and not less than the later of twelve (12) months prior to the date of termination or ten (10) days after receipt of a written request from another Party (which request may be delivered no earlier than twelve (12) months prior to the date of termination) to provide any such notice or lose such right.

Appears in 6 contracts

Sources: Pipelines, Tankage and Loading Rack Throughput Agreement (Holly Energy Partners Lp), Pipelines, Tankage and Loading Rack Throughput Agreement (HollyFrontier Corp), Pipelines, Tankage and Loading Rack Throughput Agreement (Holly Energy Partners Lp)

Effectiveness and Term. This Agreement shall be effective as of the Effective Time, and shall terminate at 12:01 a.m. Dallas, Texas, time on December 1October 31, 20242026, unless extended by written mutual agreement of the Parties or as set forth in Section 7 (the “Term). The Party(ies) desiring to extend this Agreement pursuant to this Section 6 shall provide prior written notice to the other Parties of its desire to so extend this Agreement; such written notice shall be provided not more than twenty-four (24) months and not less than the later of twelve (12) months prior to the date of termination or ten (10) days after receipt of a written request from another Party (which request may be delivered no earlier than twelve (12) months prior to the date of termination) to provide any such notice or lose such right.

Appears in 6 contracts

Sources: Pipeline Delivery, Tankage and Loading Rack Throughput Agreement (HollyFrontier Corp), Tankage, Loading Rack and Crude Oil Receiving Throughput Agreement (HollyFrontier Corp), Pipeline Delivery, Tankage and Loading Rack Throughput Agreement (Holly Energy Partners Lp)

Effectiveness and Term. This Agreement shall be effective as of the Effective Time, and shall terminate at 12:01 a.m. Dallas, Texas, time on December 1March 31, 20242025, unless extended by written mutual agreement of the Parties or as set forth in Section 7 6 (the “Term). The Party(ies) desiring to extend this Agreement pursuant to this Section 6 5 shall provide prior written notice to the other Parties of its desire to so extend this Agreement; such written notice shall be provided not more than twenty-four (24) months and not less than the later of twelve (12) months prior to the date of termination or ten (10) days after receipt of a written request from another Party (which request may be delivered no earlier than twelve (12) months prior to the date of termination) to provide any such notice or lose such right.

Appears in 2 contracts

Sources: Loading Rack Throughput Agreement (Holly Energy Partners Lp), Loading Rack Throughput Agreement (Holly Corp)