Guarantee by Hollyfrontier Sample Clauses
The "Guarantee by HollyFrontier" clause establishes that HollyFrontier, as a guarantor, promises to fulfill certain obligations or liabilities of another party under the agreement if that party fails to do so. In practice, this means that if the primary obligor defaults on payments or fails to perform contractual duties, HollyFrontier is legally required to step in and satisfy those obligations. This clause provides assurance to the other contracting party that their interests are protected, effectively reducing the risk of non-performance or non-payment.
Guarantee by Hollyfrontier. HollyFrontier Corporation, a Delaware corporation (“HollyFrontier”) unconditionally, absolutely, continually and irrevocably guarantees, as principal and not as surety, to HEP the punctual and complete payment in full when due of all amounts due from HFRM under this Agreement (collectively, the “HFRM Payment Obligations”). HollyFrontier agrees that HEP shall be entitled to enforce directly against HollyFrontier any of the HFRM Payment Obligations.
Guarantee by Hollyfrontier