Document:

Amendment4toCreditAgreementExecution

EXECUTED

AGREEMENT AND AMENDMENT NO. 4 TO
SECOND AMENDED AND RESTATED CREDIT AGREEMENT
This Agreement and Amendment No. 4 to Second Amended and Restated Credit Agreement (this “Agreement”) dated as of April 28, 2015 is among Holly Energy Partners – Operating, L.P., a Delaware limited partnership (the “Borrower”), the Guarantors (as defined below), the parties that are “Lenders” prior to the effectiveness of this Agreement under and as defined in the  Credit Agreement referred to below (the “Existing Lenders”), the parties that are New Lenders (as defined below; and together with the Existing Lenders, the “Lenders” and individually, a “Lender”), Wells Fargo Bank, National Association, as administrative agent for such Lenders (in such capacity, the “Administrative Agent”) and as an Issuing Bank.
RECITALS
A.    The Borrower, the Existing Lenders, and the Administrative Agent are parties to that certain Second Amended and Restated Credit Agreement dated as of February 14, 2011, as amended by that certain Agreement and Amendment No. 1 to Second Amended and Restated Credit Agreement dated as of February 3, 2012, as amended by that certain Agreement and Amendment No. 2 to Second Amended and Restated Credit Agreement dated as of June 29, 2012, and as amended by that certain Agreement and Amendment No. 3 to Second Amended and Restated Credit Agreement and Amendment No. 1 to Second Amended and Restated Security Agreement dated as of November 22, 2013 (as amended and as the same may be further amended, modified or supplemented from time to time, the “Credit Agreement”).
B.    In connection with such Credit Agreement, certain Subsidiaries of the Borrower executed and delivered that certain Second Amended and Restated Guaranty dated as of February 14, 2011, and Cheyenne Logistics LLC, a Delaware limited liability company, and El Dorado Logistics LLC, a Delaware limited liability company, each joined as guarantors pursuant to that certain Second Amended and Restated Guaranty Agreement Supplement No. 1 dated as of December 15, 2011, HEP UNEV Holdings LLC, a Delaware limited liability company, and HEP UNEV Pipeline LLC, a Delaware limited liability company, each joined as guarantors pursuant to that certain Second Amended and Restated Guaranty Agreement Supplement No. 2 dated as of August 10, 2012 and HEP El Dorado LLC, a Delaware limited liability company, joined as a guarantor pursuant to that certain Second Amended and Restated Guaranty Agreement Supplement No. 3 dated as of April 3, 2015  (as the same may be further amended, modified or supplemented from time to time, the “Guaranty”) in favor of the Administrative Agent for the benefit of the Beneficiaries (as defined in the Guaranty) pursuant to which they each became a Guarantor.
C.    The Borrower has requested an increase in the aggregate Commitment under, and as defined in, the Credit Agreement.
D.    To effect the increase to the Commitment and subject to the terms set forth herein, certain Existing Lenders have agreed to increase their respective Commitments and certain other 

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financial institutions have agreed to enter into the Credit Agreement as Lenders (such new lenders being referred to herein as “New Lenders”).
E.    The Borrower has also requested that the Existing Lenders and the New Lenders amend the Credit Agreement to make certain other changes to the Credit Agreement. 
THEREFORE, the parties hereto hereby agree as follows:
ARTICLE I
DEFINITIONS
Section 1.01    Terms Defined Above.  As used in this Agreement, each of the terms defined in the opening paragraph and the Recitals above shall have the meanings assigned to such terms therein.  
Section 1.02    Terms Defined in the Credit Agreement.  Each term defined in the Credit Agreement and used herein without definition shall have the meaning assigned to such term in the Credit Agreement, unless expressly provided to the contrary.
Section 1.03    Other Definitional Provisions.  The words “hereby”, “herein”, “hereinafter”, “hereof”, “hereto” and “hereunder” when used in this Agreement shall refer to this Agreement as a whole and not to any particular Article, Section, subsection or provision of this Agreement.  Section, subsection and Schedule references herein are to such Sections, subsections and Schedules to this Agreement unless otherwise specified.  All titles or headings to Articles, Sections, subsections or other divisions of this Agreement or the schedules hereto, if any, are only for the convenience of the parties and shall not be construed to have any effect or meaning with respect to the other content of such Articles, Sections, subsections, other divisions or schedules, such other content being controlling as the agreement among the parties hereto.  Whenever the context requires, reference herein made to the single number shall be understood to include the plural; and likewise, the plural shall be understood to include the singular.  Words denoting gender shall be construed to include the masculine, feminine and neuter, when such construction is appropriate; and specific enumeration shall not exclude the general but shall be construed as cumulative.  Definitions of terms defined in the singular or plural shall be equally applicable to the plural or singular, as the case may be, unless otherwise indicated.
ARTICLE II
NEW LENDER AGREEMENTS
Section 2.01    New Lender Agreements.  Each New Lender:
(a)    represents and warrants that it has full power and authority, and has taken all action necessary, to execute and deliver this Agreement and to become a Lender under the Credit Agreement;
(b)    agrees that, from and after the Effective Date (as herein defined), it shall be bound by the provisions of the Credit Agreement as a Lender thereunder and, subject to its Commitment, shall have the obligations of a Lender thereunder;

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(c)    represents and warrants that it is sophisticated with respect to decisions to enter into the Credit Agreement as a Lender and either it, or the person exercising discretion in making its decision to enter into the Credit Agreement, is experienced in making credit decisions as a lender in the type of transaction evidenced by the Credit Agreement;
(d)    represents and warrants that it has received a copy of the Credit Agreement and such other Credit Documents it has requested, and has received or has been accorded the opportunity to receive copies of the most recent financial statements delivered pursuant to Section 5.06 thereof, as applicable, and such other documents and information as it deems appropriate to make its own credit analysis and decision to enter into this Agreement and the Credit Agreement;
(e)    represents and warrants that it has, independently and without reliance upon the Administrative Agent or any other Existing Lender or New Lender and based on such documents and information as it has deemed appropriate, made its own credit analysis and decision to enter into this Agreement and to become a Lender under the Credit Agreement;
(f)    if it is not incorporated under the laws of the United States of America or a state thereof, has delivered or shall deliver simultaneously with the execution of this Agreement, any documentation required to be delivered by it as a Lender pursuant to the terms of the Credit Agreement, duly completed and executed by such New Lender;
(g)    agrees that (i) it will, independently and without reliance on the Administrative Agent or any other Existing Lender or New Lender, and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking action under the Credit Documents, and (ii) it will perform in accordance with their terms all of the obligations which by the terms of the Credit Documents are required to be performed by it as a Lender; 
(h)    appoints and authorizes Administrative Agent to take such action as Administrative Agent on its behalf and to exercise such powers and discretion under the Credit Documents as are delegated to the Administrative Agent thereby, together with such powers and discretion as are reasonably incidental thereto; and
(i)    specifies as its Applicable Lending Office and (address for notices) the office(s) set forth beside its name on Schedule 1.01(b) attached hereto. 

ARTICLE III
AMENDMENTS
Section 3.01    Amendment to Credit Agreement.  Effective as of the Effective Date, the Credit Agreement shall hereby be amended as follows:
(a)    The following definitions found in Section 1.01 (Certain Defined Terms) of the Credit Agreement are hereby amended to read in their entirety as follows:

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“Agreement” means this Second Amended and Restated Credit Agreement dated as of February 14, 2011 among the Borrower, the Lenders, the Issuing Banks and the Administrative Agent, as amended by Amendment No. 1, Amendment No. 2, Amendment No. 3 and Amendment No. 4 and as it may be further amended, modified, restated, renewed, extended, increased or supplemented from time‐to‐time.
“Credit Documents” means, collectively, this Agreement, Amendment No. 1, Amendment No. 2, Amendment No. 3, Amendment No. 4, the Notes, the Security Documents, the Guaranties, the Letter of Credit Documents, the Fee Letters, the Amendment No. 1 Fee Letter, the Amendment No. 2 Fee Letter, the Amendment No. 3 Fee Letter, the Amendment No. 4 Fee Letter and each other agreement, instrument or document executed at any time in connection with the foregoing documents, as each such Credit Document may be amended, modified or supplemented from time-to-time; provided, however, that in no event shall any agreement in respect of Banking Services Obligations or any Lender Hedging Agreement constitute a Credit Document hereunder.
“Eurodollar Rate” means, for the Interest Period for each Eurodollar Rate Advance comprising the same Borrowing, the interest rate per annum reported by Bloomberg L.P. in its index of rates (or any successor to or substitute for such index, providing rate quotations comparable to those currently provided on such page of such index, as reasonably determined by the Administrative Agent from time to time for purposes of providing quotations of interest rates applicable to Dollar deposits in the London interbank market) at approximately 11:00 a.m. (London, England time), two Business Days prior to the commencement of such Interest Period, as the rate for Dollar deposits in the approximate amount of such Eurodollar Rate Advance with a maturity comparable to such Interest Period for such Eurodollar Rate Advance.  In the event that such rate is not available at such time for any reason, then the “Eurodollar Rate” with respect to such Eurodollar Rate Advance for such Interest Period shall be the rate at which Dollar deposits of $5,000,000 and for a maturity comparable to such Interest Period are offered to prime banks by the principal London office of the Administrative Agent in immediately available funds in the London interbank market at approximately 11:00 a.m. (London, England time), two Business Days prior to the commencement of such Interest Period. If the Eurodollar Rate determined as provided in this definition with respect to any Eurodollar Rate Advance for any Interest Period would be less than 0.00% per annum, then the Eurodollar Rate with respect to such Eurodollar Rate Advance for such Interest Period shall be deemed to be 0.00% per annum.
“Lender” means a party to this Agreement that (a) became a party hereto as a lender on the date hereof, (b) is identified as a “New Lender” (as defined in Amendment No. 1) entering into this Agreement under and as provided in Amendment No. 1, (c) is identified as a “New Lender” (as defined in Amendment No. 2) entering into this Agreement under and as provided in Amendment No. 2, or 

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(d) is identified as a “New Lender” (as defined in Amendment No. 4) entering into this Agreement under and as provided in Amendment No. 4, or (e) is an Eligible Assignee or an Approved Affiliate that became a party hereto pursuant to Sections 2.14, 2.15 or 9.05.
“Obligations” means (a) the principal, interest, fees, Letter of Credit commissions, charges, expenses, attorneys’ fees and disbursements, indemnities and any other amounts payable by any Loan Party to the Administrative Agent, the Issuing Banks and the Lenders under the Credit Documents, including without limitation, the Letter of Credit Obligations and (b) any amount in respect to any of the foregoing that the Administrative Agent, any Issuing Bank or any Lender, in its sole discretion, elects to pay or advance on behalf of any Loan Party after the occurrence and during the continuance of an Event of Default. In addition, all references to the “Obligations” in the Security Documents and in Sections 2.16 and 7.05 of this Agreement shall, in addition to the foregoing, also include all present and future indebtedness, liabilities, and obligations of any Loan Party (and all renewals and extensions thereof or any part thereof) now or hereafter owed to any counterparty to a Lender Hedging Agreement pursuant to such Lender Hedging Agreement or to any Lender or any Affiliate of a Lender with respect to Banking Service Obligations; provided that solely with respect to any Guarantor that is not an “eligible contract participant” under the Commodity Exchange Act, Excluded Pari Passu Hedging Obligations of such Guarantor shall in any event be excluded from “Obligations” owing by such Guarantor.  It is expressly agreed that Excluded Pari Passu Hedging Obligations shall not be treated as Obligations for purposes of the provisions for acceleration in Article VII and for adjustments and set-off in Section 7.05.
“Swap Contract” means (a) any and all interest rate swap transactions, interest rate protection agreements, basis swaps, credit derivative transactions, forward rate transactions, commodity swaps, commodity options, forward commodity contracts, equity or equity index swaps or options, bond or bond price or bond index swaps or options or forward bond or forward bond price or forward bond index transactions, interest rate options, forward foreign exchange transactions, cap transactions, floor transactions, collar transactions, currency swap transactions, cross-currency rate swap transactions, currency options, spot contracts, or any other similar transactions or any combination of any of the foregoing (including any options to enter into any of the foregoing), whether or not any such transaction is governed by or subject to any master agreement, (b) any and all transactions of any kind, and the related confirmations, which are subject to the terms and conditions of, or governed by, any form of master agreement published by the International Swaps and Derivatives Association, Inc., any International Foreign Exchange Master Agreement, or any other master agreement (any such master agreement, together with any related schedules, a “Master Agreement”), including any such obligations or liabilities under any Master Agreement and (c) any other derivative agreement or other similar agreement or arrangement, in each case, including any agreement, 

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contract or transaction that constitutes a “swap” within the meaning of section 1a(47) of the Commodity Exchange Act.
“Permitted Note Debt” means (i) the 6.50% senior notes due 2020 issued by the Limited Partner and Finance Corp and (ii) Debt in connection with unsecured senior notes issued by the Limited Partner, Finance Corp or any of their wholly owned Subsidiaries; provided that with respect to senior notes described in clause (ii) above (a) after giving effect to the issuance of such notes, there would be no Default under this Agreement, (b) such notes’ scheduled maturity is no earlier than February 20, 2019, (c) the weighted average life of such notes is greater than the weighted average life of the Notes, and (d) no indenture or other agreement governing such notes contains financial maintenance covenants or other covenants or events of default that are materially more restrictive on the Limited Partner or any of its Subsidiaries than those contained in this Agreement or in the existing note documents related to the senior notes described in clause (i) above. 
 (b)    The following new definitions are added to Section 1.01 (Certain Defined Terms) of the Credit Agreement to appear therein in alphabetical order:
“Amendment No. 4” means that certain Agreement and Amendment No. 4 to Second Amended and Restated Credit Agreement dated as of April 28, 2015, among the Borrower, the Guarantors, Wells Fargo Bank, National Association, as Administrative Agent, a Lender and an Issuing Bank, and all of the Lenders party thereto (including each Person identified as a “New Lender” (as defined in Amendment No. 4) entering into this Agreement under and as provided in Amendment No. 4).
“Amendment No. 4 Fee Letter” means, collectively, the separate letter agreements, each dated April 10, 2015, one between the Borrower and Wells Fargo Securities, LLC and Wells Fargo and the other between the Borrower and MUFG Union Bank, N.A.
“Commodity Exchange Act” means the Commodity Exchange Act (7 U.S.C. 1, et seq.), as amended from time to time, and any successor statute, and any regulations promulgated thereunder.
“Excluded Pari Passu Hedging Obligations” means, with respect to any Loan Party individually determined on a Loan Party by Loan Party basis, any Obligations in respect of any Lender Hedging Agreement if, and solely to the extent that, all or a portion of the guarantee of such Loan Party of, or the grant by such Loan Party of a security interest to secure, such Obligations in respect of any Lender Hedging Agreement (or any guarantee thereof) is or becomes illegal under the Commodity Exchange Act by virtue of such Loan Party’s failure for any reason to constitute an “eligible contract participant” as defined in the Commodity Exchange Act at the time such guarantee or grant of a security interest becomes effective with respect to such related Obligations in respect of any Lender Hedging Agreement.  If any Obligations 

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in respect of any Lender Hedging Agreement arises under a master agreement governing more than one swap, such exclusion shall apply only to the portion of such Obligations in respect of any Lender Hedging Agreement that is attributable to swaps for which such guarantee or security interest is or becomes illegal.
“Loan Parties” means, collectively, the Borrower and each Guarantor, and “Loan Party” means any one of the foregoing.
“Qualified ECP Guarantor”  means in respect of any Lender Hedging Agreement, each Loan Party that (a) has total assets exceeding $10,000,000 at the time any guaranty of obligations under such Lender Hedging Agreement becomes effective or (b) otherwise constitutes an “eligible contract participant” under the Commodity Exchange Act and can cause another Person to qualify as an “eligible contract participant” at such time by entering into a keepwell under Section 1a(18)(A)(v)(II) of the Commodity Exchange Act.

(d)    Section 2.14 (Commitment Increase) of the Credit Agreement is hereby deleted in its entirety and the heading is changed to “Reserved”.    
(e)    Section 7.06 (Application of Collateral) of the Credit Agreement is hereby amended by adding at the end thereof after clause fifth the following:
“Notwithstanding the foregoing, amounts received from any Loan Party that is not an “eligible contract participant” under the Commodity Exchange Act shall not be applied to any Excluded Pari Passu Hedging Obligations (it being understood, that in the event that any amount is applied to Obligations other than Excluded Pari Passu Hedging Obligations as a result of this Section 7.06, the Administrative Agent may make such adjustments as it determines are appropriate to distributions pursuant to clause fourth above from amounts received from “eligible contract participants” under the Commodity Exchange Act to ensure, as nearly as possible, that the proportional aggregate recoveries with respect to Obligations described in clause fourth above by the holders of any Excluded Pari Passu Hedging Obligations are the same as the proportional aggregate recoveries with respect to other Obligations pursuant to clause fourth above).

Administrative Agent shall incur no liability in connection with any determination of the existence or amount of Excluded Pari Passu Hedging Obligations and Administrative Agent may reserve from the application of amounts under this Section 7.06 any amounts it believes may be distributable in respect of Excluded Pari Passu Hedging Obligations until it has received evidence satisfactory to it of the existence, or lack of existence, and amount of such Excluded Pari Passu Hedging Obligations.  Further, Administrative Agent may rely on certifications and representations from the Borrower in determining the existence and amount of such Excluded Pari Passu Hedging Obligations. “ 

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(f)    A new Section 9.21 (Commodity Act Keepwell Provisions) is hereby added to the Credit Agreement to read in its entirety as follows:
“Section 9.21.  Commodity Act Keepwell Provisions. 

The Borrower, to the extent that it is a Qualified ECP Guarantor, hereby guarantees the payment and performance of all Obligations in respect of any Lender Hedging Agreement of each Guarantor and absolutely, unconditionally and irrevocably undertakes to provide such funds or other support as may be needed from time to time by each Guarantor in order for such Guarantor to honor its obligations under the Guaranty with respect to Lender Hedging Agreements (provided, however, that the Borrower, to the extent it is a Qualified ECP Guarantor, shall only be liable under this Section for the maximum amount of such liability that can be hereby incurred (a) without rendering its obligations under this Section, or otherwise under this Agreement or any Credit Document, as it relates to such Guarantors, voidable under laws relating to fraudulent conveyance or fraudulent transfer, and not for any greater amount and (b) without rendering such Guarantor liable for amounts to creditors, other than to a counterparty to a Lender Hedging Agreement, that such Guarantor would not otherwise have made available to such creditors if this Section 9.21 was not in effect). The obligations of the Borrower, to the extent it is a Qualified ECP Guarantor, under this Section shall remain in full force and effect until all Obligations are paid in full to the Lenders, the Administrative Agent and the counterparties to all Lender Hedging Agreements, and all of the Lenders’ Commitments are terminated.  The Borrower intends that this Section 9.21 constitute, and this Section 9.21 shall be deemed to constitute, a “keepwell, support, or other agreement” for the benefit of each other Loan Party for all purposes of Section 1a(18)(A)(v)(II) of the Commodity Exchange Act.”
 (g)    Schedule 1.01(a) – Commitments - which is attached to the Credit Agreement is hereby replaced in its entirety with Schedule 1.01(a) that is attached hereto.
(h)    Schedule 1.01(b) – Notice Addresses and Applicable Lending Offices - which is attached to the Credit Agreement is hereby replaced in its entirety with Schedule 1.01(b) that is attached hereto.

ARTICLE IV
AGREEMENTS
Section 4.01    Commitments. Each Existing Lender and each New Lender hereby acknowledges and confirms that, as of the date hereof and after giving effect to this Agreement its respective Commitment is as set forth next to its name on Schedule 1.01(a) attached hereto.  
Section 4.02    Breakage Costs.  If, as a result of the increase in the aggregate Commitments effected hereby, any Lender incurs any losses, out-of-pocket costs or expenses as a result of any payment of Eurodollar Rate Advances prior to the last day of the Interest Period applicable thereto (whether by the Borrower or as a result of the reallocation of the outstandings of the Eurodollar Rate 

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Advances under the Credit Agreement due to the changes in the Lenders’ Pro Rata Share resulting from the non-pro rata increases in the Commitments and the joinder of New Lenders into the Credit Agreement) and such Lender makes a request for compensation pursuant to Section 2.10 of the Credit Agreement, the Borrower shall, within ten (10) days of any written demand sent by such Lender to the Borrower through the Administrative Agent, pay to the Administrative Agent for the account of such Lender any amounts required under Section 2.10 of the Credit Agreement to compensate such Lender for such losses, out-of-pocket costs or expenses which it may reasonably incur as a result of such payment or reallocation, including, without limitation, any loss (including loss of anticipated profits), cost or expense incurred by reason of the liquidation or reemployment of deposits or other funds acquired by any Lender to fund or maintain such Advances.
 Section 4.03    Fees.  On the Effective Date, the Borrower shall pay to the Administrative Agent for the account of each Existing Lender increasing its Commitment pursuant to this Agreement, an upfront fee equal to thirty (30) basis points (0.30%) of the amount by which such Existing Lender’s Commitment (less any decrease in the Commitments of any Affiliate of such Existing Lender) exceeds its Commitment in effect immediately prior to the Effective Date and (b) for each New Lender, an upfront fee equal to thirty basis points (0.30%) of its Commitment (less any decrease in the Commitment of any Affiliate of such New Lender).  On the Effective Date, such fees shall be non-refundable and deemed to be fully earned when paid.
ARTICLE V
REPRESENTATIONS AND WARRANTIES
Section 5.01    Borrower Representations and Warranties.  The Borrower represents and warrants that: (a) the representations and warranties contained in the Credit Agreement and the representations and warranties contained in the other Credit Documents are true and correct in all material respects on and as of the Effective Date as if made on and as of such date, except to the extent that such representations and warranties specifically refer to an earlier date, in which case they shall be true and correct in all material respects as of such earlier date; (b) no Default has occurred and is continuing; (c) the execution, delivery and performance of this Agreement are within the partnership power and authority of the Borrower and have been duly authorized by appropriate partnership action and proceedings; (d) this Agreement constitutes the legal, valid, and binding obligation of the Borrower enforceable in accordance with its terms, except as limited by applicable bankruptcy, insolvency, reorganization, moratorium, or similar laws affecting the rights of creditors generally and general principles of equity; (e) there are no governmental or other third party consents, licenses and approvals required to be obtained by the Borrower in connection with the execution, delivery and performance of this Agreement by the Borrower or the validity and enforceability of this Agreement against the Borrower; and (f) the Liens under the Security Documents are valid and subsisting and secure Borrower’s obligations under the Credit Documents.
Section 5.02    Guarantors’ Representations and Warranties.  Each Guarantor represents and warrants that: (a) the representations and warranties of such Guarantor contained in the Guaranty and the representations and warranties contained in the other Credit Documents to which such Guarantor is a party are true and correct in all material respects on and as of the Effective Date as if made on and as of such date, except to the extent that such representations and warranties 

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specifically refer to an earlier date, in which case they shall be true and correct as of such earlier date; (b) no Default has occurred which is continuing; (c) the execution, delivery and performance of this Agreement are within the corporate or other organizational power and authority of such Guarantor and have been duly authorized by appropriate action and proceedings; (d) this Agreement constitutes the legal, valid, and binding obligation of such Guarantor enforceable in accordance with its terms, except as limited by applicable bankruptcy, insolvency, reorganization, moratorium, or similar laws affecting the rights of creditors generally and general principles of equity; (e) there are no governmental or other third party consents, licenses and approvals required to be obtained by such Guarantor in connection with the execution, delivery or performance of this Agreement by such Guarantor or the validity and enforceability of this Agreement against such Guarantor; (f) to its knowledge, it has no defenses to the enforcement of the Guaranty (other than the indefeasible payment in full of the Obligations); and (g) the Liens under the Security Documents to which such Guarantor is a party are valid and subsisting and secure such Guarantor’s obligations under the Credit Documents.
ARTICLE VI
CONDITIONS
The Credit Agreement shall be amended as provided herein, upon the date all of the following conditions precedent have been met (the “Effective Date”):
Section 6.01    Documents.  The Administrative Agent shall have received each of the following:
(a)    this Agreement duly and validly executed and delivered by the Borrower, the Guarantors, the Administrative Agent and the Majority Lenders;
(b)    the Amendment No. 4 Fee Letter;
(c)    a replacement Note for each Existing Lender which increased its Commitment pursuant to this Agreement and a new Note to each New Lender, in each case, in the amount of their respective Commitment after giving effect to this Agreement;
(d)    a secretary’s or a Responsible Officer’s certificate for the Borrower dated the date hereof and certifying copies of the resolutions of the board of directors of the General Partner authorizing this Agreement and the increase in the aggregate Commitment effected hereby.  
Section 6.02    No Default.  No Default shall have occurred which is continuing as of the Effective Date.
Section 6.03    Fees and Expenses. The Borrower shall have paid or reimbursed the Administrative Agent for (a) all of its reasonable and documented out-of-pocket costs and expenses incurred in connection with this Agreement and the increase in the aggregate Commitment effected hereby, any other documents prepared in connection herewith and the transactions contemplated hereby, including, without limitation, the fees and disbursements of the Administrative Agent’s outside legal counsel, in each case, pursuant to all invoices of the Administrative Agent and/or such 

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counsel presented to the Borrower for payment not less than two (2) days prior to the Effective Date, (b) all fees required to be paid under the fee letter referenced in Section 6.01(b) above, and (c) all upfront fees required to be paid under Section 4.03 above.
ARTICLE VII
MISCELLANEOUS
Section 7.01    Effect on Credit Documents; Acknowledgements.  
(a)     Each of the Borrower, the Guarantors, Administrative Agent, the Issuing Banks, and the Majority Lenders does hereby adopt, ratify, and confirm the Credit Agreement and each other Credit Document, as amended hereby, and acknowledges and agrees that the Credit Agreement and each other Credit Document, as amended hereby, is and remains in full force and effect, and the Borrower and the Guarantors acknowledge and agree that their respective liabilities and obligations under the Credit Agreement and the other Credit Documents are not impaired in any respect by this Agreement.
(b)    From and after the Effective Date, all references to the Credit Agreement and the Credit Documents shall mean such Credit Agreement and such Credit Documents as amended by this Agreement.
(c)    This Agreement is a Credit Document for the purposes of the provisions of the other Credit Documents.  Without limiting the foregoing, any breach of representations, warranties, and covenants under this Agreement shall be a Default or Event of Default, as applicable, under the Credit Agreement, subject to all applicable cure or grace periods provided for under the Credit Agreement.
Section 7.02    Reaffirmation of the Guaranty.  Each Guarantor hereby ratifies, confirms, acknowledges and agrees that its obligations under the Guaranty are in full force and effect and that such Guarantor continues to unconditionally and irrevocably guarantee the full and punctual payment, when due, whether at stated maturity or earlier by acceleration or otherwise, of all of the Guaranteed Obligations (as defined in the Guaranty), as such Guaranteed Obligations may have been amended by this Agreement, and its execution and delivery of this Agreement does not indicate or establish an approval or consent requirement by such Guarantor under the Guaranty in connection with the execution and delivery of amendments to the Credit Agreement, the Notes or any of the other Credit Documents (other than the Guaranty or any other Credit Document to which such Guarantor is a party).
Section 7.03    Counterparts.  This Agreement may be signed in any number of counterparts, each of which shall be an original and all of which, taken together, constitute a single instrument.  This Agreement may be executed by facsimile signature or other electronic transmission and all such signatures shall be effective as originals.
Section 7.04    Successors and Assigns.  This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns permitted pursuant to the Credit Agreement.

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Section 7.05    Invalidity.  In the event that any one or more of the provisions contained in this Agreement shall for any reason be held invalid, illegal or unenforceable in any respect, such invalidity, illegality or unenforceability shall not affect any other provision of this Agreement.
Section 7.06    Governing Law.  This Agreement shall be deemed to be a contract made under and shall be governed by, construed and enforced in accordance with the laws of the State of Texas.  Without limiting the intent of the parties set forth above, (a) Texas Finance Code Chapter 346 (which regulates certain revolving loan accounts and revolving tri-party accounts), shall not apply to this Agreement or the transactions contemplated hereby and (b) to the extent that any Lender may be subject to Texas law limiting the amount of interest payable for its account, such Lender shall utilize the indicated (weekly) rate ceiling from time to time in effect as provided under Texas Finance Code, §303.002, as limited by Texas Finance Code §303.009.  
Section 7.07    Entire Agreement. THIS AGREEMENT, THE CREDIT AGREEMENT AS AMENDED BY THIS AGREEMENT, THE NOTES, AND THE OTHER CREDIT DOCUMENTS CONSTITUTE THE ENTIRE UNDERSTANDING AMONG THE PARTIES HERETO WITH RESPECT TO THE SUBJECT MATTER HEREOF AND SUPERSEDE ANY PRIOR AGREEMENTS, WRITTEN OR ORAL, WITH RESPECT THERETO.
THERE ARE NO UNWRITTEN ORAL AGREEMENTS AMONG THE PARTIES.
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 EXECUTED to be effective as of the date first above written.
	
								
	 
	 
	 
	 
	BORROWER:
	 
	 

	 
	 
	 
	 
	HOLLY ENERGY PARTNERS - OPERATING, L.P., 
a Delaware limited partnership

	 
	 
	 
	 
	By:
	HEP Logistics GP, L.L.C., a Delaware limited liability company, its General Partner

	 
	 
	 
	 
	By:
	Holly Energy Partners, L.P., a Delaware limited partnership, its Sole Member

	 
	 
	 
	 
	By:
	HEP Logistics Holdings, L.P., a Delaware limited partnership, its General Partner

	 
	 
	 
	 
	By:
	Holly Logistic Services, L.L.C., a Delaware limited liability company, its General Partner

	 
	 
	 
	 
	By:
	  /s/ Stephen D. Wise
  Stephen D. Wise
  Vice President and Treasurer

Signature Page 1  
Amendment No. 4
Holly Energy Partners - Operating, L.P. 
Credit Agreement

	
		
	 
	GUARANTORS:

	 
	HEP PIPELINE GP, L.L.C., a Delaware limited liability company

	 
	HEP REFINING GP, L.L.C., a Delaware limited liability company
HEP MOUNTAIN HOME, L.L.C., a Delaware limited liability company
HEP PIPELINE, L.L.C., a Delaware limited liability company
HEP REFINING, L.L.C., a Delaware limited liability company
HEP WOODS CROSS, L.L.C., a Delaware limited liability company
HEP TULSA LLC, a Delaware limited liability company
LOVINGTON-ARTESIA, L.L.C., a Delaware limited liability company
HEP SLC, LLC, a Delaware limited liability company
ROADRUNNER PIPELINE, L.L.C., a Delaware limited liability company

	
						
	 
	 
	 
	Each by:
	Holly Energy Partners - Operating, L.P., a Delaware limited partnership and its Sole member

	 
	 
	 
	 
	By:
	HEP Logistics GP, L.L.C., a Delaware limited liability company, its General Partner

	 
	 
	 
	 
	By:
	Holly Energy Partners, L.P., a Delaware limited partnership, its Sole Member

	 
	 
	 
	 
	By:
	HEP Logistics Holdings, L.P., a Delaware limited partnership, its General Partner

	 
	 
	 
	 
	By:
	Holly Logistic Services, L.L.C., a Delaware limited liability company, its General Partner

	 
	 
	 
	 
	By:
	  /s/ Stephen D. Wise
  Stephen D. Wise
  Vice President and Treasurer

Signature Page 2  
Amendment No. 4
Holly Energy Partners - Operating, L.P. 
Credit Agreement

	
						
	 
	 
	HEP NAVAJO SOUTHERN, L.P., a Delaware limited partnership
HEP PIPELINE ASSETS, LIMITED PARTNERSHIP, a Delaware limited partnership
HEP FIN-TEX/TRUST-RIVER, L.P., a Texas limited partnership

	 
	 
	 
	 
	 
	 

	 
	 
	Each by:
	HEP Pipeline GP, L.L.C., a Delaware limited liability company and its General Partner

	 
	 
	 
	By:
	Holly Energy Partners - Operating, L.P., a Delaware limited partnership and its Sole Member

	 
	 
	 
	By:
	HEP Logistics GP, L.L.C., a Delaware limited liability company, its General Partner

	 
	 
	 
	By:
	Holly Energy Partners, L.P., a Delaware limited partnership, its Sole Member

	 
	 
	 
	By:
	HEP Logistics Holdings, L.P., a Delaware limited partnership, its General Partner

	 
	 
	 
	By:
	Holly Logistic Services, L.L.C., a Delaware limited liability company, its General Partner

	 
	 
	 
	 
	 
	 

	 
	 
	 
	By:
	/s/ Stephen D. Wise   
Stephen D. Wise
Vice President and Treasurer
	 

Signature Page 3  
Amendment No. 4
Holly Energy Partners - Operating, L.P. 
Credit Agreement

	
			
	 
	 
	HEP REFINING ASSETS, L.P., a Delaware limited
   partnership

	
						
	 
	 
	 
	By:
	HEP Refining GP, L.L.C., a Delaware limited liability company and its General Partner

	 
	 
	 
	By:
	Holly Energy Partners - Operating, L.P., a Delaware limited partnership and its Sole Member

	 
	 
	 
	By:
	HEP Logistics GP, L.L.C., a Delaware limited liability company, its General Partner

	 
	 
	 
	By:
	Holly Energy Partners, L.P., a Delaware limited partnership, its Sole Member

	 
	 
	 
	By:
	HEP Logistics Holdings, L.P., a Delaware limited partnership, its General Partner

	 
	 
	 
	By:
	Holly Logistic Services, L.L.C., a Delaware limited liability company, its General Partner

	 
	 
	 
	 
	 
	 

	 
	 
	 
	By:
	/s/ Stephen D. Wise   
Stephen D. Wise
Vice President and Treasurer
	 

	
			
	 
	 
	HEP LOGISTICS GP, L.L.C., a Delaware limited
   liability company

	
					
	 
	 
	By:
	Holly Energy Partners, L.P., a Delaware limited partnership, its Sole Member

	 
	 
	 
	By:
	HEP Logistics Holdings, L.P., a Delaware limited partnership, its General Partner

	 
	 
	 
	By:
	Holly Logistic Services, L.L.C., a Delaware limited liability company, its General Partner

	 
	 
	 
	 
	 

	 
	 
	 
	By:
	/s/ Stephen D. Wise   
Stephen D. Wise
Vice President and Treasurer

Signature Page 4  
Amendment No. 4
Holly Energy Partners - Operating, L.P. 
Credit Agreement

	
			
	 
	 
	HOLLY ENERGY PARTNERS, L.P., a Delaware 
   limited partnership

	
					
	 
	 
	By:
	HEP Logistics Holdings, L.P., a Delaware limited partnership, its General Partner

	 
	 
	 
	By:
	Holly Logistic Services, L.L.C., a Delaware limited liability company, its General Partner

	 
	 
	 
	 
	 

	 
	 
	 
	By:
	/s/ Stephen D. Wise   
Stephen D. Wise
Vice President and Treasurer

	
								
	 
	 
	 
	 
	HOLLY ENERGY FINANCE CORP., a Delaware corporation

	 
	 
	 
	 
	 

	 
	 
	 
	By:
	/s/ Stephen D. Wise   
Stephen D. Wise
Vice President and Treasurer

	
					
	 
	 
	 
	 
	HOLLY ENERGY STORAGE - LOVINGTON LLC, a Delaware limited liability company

	
						
	 
	 
	 
	By:
	HEP Refining, L.L.C., a Delaware limited liability and its Sole Member

	 
	 
	 
	By:
	Holly Energy Partners - Operating, L.P., a Delaware limited partnership and its Sole Member

	 
	 
	 
	By:
	HEP Logistics GP, L.L.C., a Delaware limited liability company, its General Partner

	 
	 
	 
	By:
	Holly Energy Partners, L.P., a Delaware limited partnership, its Sole Member

	 
	 
	 
	By:
	HEP Logistics Holdings, L.P., a Delaware limited partnership, its General Partner

	 
	 
	 
	By:
	Holly Logistic Services, L.L.C., a Delaware limited liability company, its General Partner

	 
	 
	 
	 
	 
	 

	 
	 
	 
	By:
	/s/ Stephen D. Wise   
Stephen D. Wise
Vice President and Treasurer
	 

Signature Page 5  
Amendment No. 4
Holly Energy Partners - Operating, L.P. 
Credit Agreement

	
						
	 
	 
	CHEYENNE LOGISTICS LLC, a Delaware limited liability company
EL DORADO LOGISTICS LLC, a Delaware limited liability company
HEP UNEV HOLDINGS LLC, a Delaware limited liability company
HEP UNEV PIPELINE LLC, a Delaware limited liability company
HEP EL DORADO LLC, a Delaware limited liability company

	 
	 
	 
	 
	 
	 

	 
	 
	 
	By:
	/s/ Stephen D. Wise   
Stephen D. Wise
Vice President and Treasurer
	 

Signature Page 6  
Amendment No. 4
Holly Energy Partners - Operating, L.P. 
Credit Agreement

	
					
	 
	 
	ADMINISTRATIVE AGENT:

WELLS FARGO BANK, NATIONAL ASSOCIATION
as Administrative Agent

	 
	 
	 
	 
	 

	 
	 
	By:   /s/ Rick Hawthorne            
Name:    Rick Hawthorne
Title:   Director

	
					
	 
	 
	LENDERS:

WELLS FARGO BANK, NATIONAL ASSOCIATION
as a Lender and an Issuing Bank

	 
	 
	 
	 
	 

	 
	 
	By:   /s/ Rick Hawthorne            
Name:    Rick Hawthorne
Title:   Director

Signature Page 7  
Amendment No. 4
Holly Energy Partners - Operating, L.P. 
Credit Agreement

	
					
	 
	 
	MUFG UNION BANK, N.A., as a Lender and Syndication Agent

	 
	 
	 
	 
	 

	 
	 
	By:   /s/ Brian Hawk    
Name:   Brian Hawk
Title:    Vice President

Signature Page 8  
Amendment No. 4
Holly Energy Partners - Operating, L.P. 
Credit Agreement

	
					
	 
	 
	COMPASS BANK, as a Lender and a Co-Documentation Agent

	 
	 
	 
	 
	 

	 
	 
	By:   /s/ Blake Kirshman    
Name:   Blake Kirshman 
Title:    Senior Vice President

Signature Page 9  
Amendment No. 4
Holly Energy Partners - Operating, L.P. 
Credit Agreement

	
					
	 
	 
	U.S. BANK NATIONAL ASSOCIATION, as a Lender and a Co-Documentation Agent

	 
	 
	 
	 
	 

	 
	 
	By:   /s/ Todd S. Anderson    
Name:   Todd S. Anderson 
Title:    Vice President

Signature Page 10  
Amendment No. 4
Holly Energy Partners - Operating, L.P. 
Credit Agreement

	
					
	 
	 
	BANK OF AMERICA, N.A. , as a Lender

	 
	 
	 
	 
	 

	 
	 
	By:   /s/ Joseph Scott    
Name:   Joseph Scott 
Title:    Managing Director

Signature Page 11  
Amendment No. 4
Holly Energy Partners - Operating, L.P. 
Credit Agreement

	
					
	 
	 
	CAPITAL ONE, NATIONAL ASSOCIATION,
as a Lender

	 
	 
	 
	 
	 

	 
	 
	By:   /s/ Kristin Oswald    
Name:   Kristin Oswald 
Title:    Vice President

 

Signature Page 12  
Amendment No. 4
Holly Energy Partners - Operating, L.P. 
Credit Agreement

	
					
	 
	 
	COMERICA BANK, as a Lender

	 
	 
	 
	 
	 

	 
	 
	By:   /s/ Kyle J. Weiss    
Name:   Kyle J. Weiss 
Title:    Vice President

Signature Page 13  
Amendment No. 4
Holly Energy Partners - Operating, L.P. 
Credit Agreement

	
					
	 
	 
	SUNTRUST BANK, as a Lender

	 
	 
	 
	 
	 

	 
	 
	By:   /s/ Carmen Malizia    
Name:   Carmen Malizia 
Title:    Director

Signature Page 14  
Amendment No. 4
Holly Energy Partners - Operating, L.P. 
Credit Agreement

	
					
	 
	 
	UBS AG STAMFORD BRANCH, as a Lender

	 
	 
	 
	 
	 

	 
	 
	By:   /s/ Darlene Arias    
Name:   Darlene Arias 
Title:    Director 

By:   /s/ Houssem Daly    
Name:   Houssem Daly 
Title:    Associate Director

Signature Page 15  
Amendment No. 4
Holly Energy Partners - Operating, L.P. 
Credit Agreement

	
					
	 
	 
	PNC BANK, NATIONAL ASSOCIATION, as a Lender

	 
	 
	 
	 
	 

	 
	 
	

By:   /s/ M. Colin Warman    
Name:   M. Colin Warman 
Title:    Vice President

Signature Page 16  
Amendment No. 4
Holly Energy Partners - Operating, L.P. 
Credit Agreement

 

	
					
	 
	 
	CITIBANK, N.A., as a Lender and a Co-Documentation Agent

	 
	 
	 
	 
	 

	 
	 
	

By:   /s/ Eamon Baqui    
Name:   Eamon Baqui 
Title:    Vice President

Signature Page 17  
Amendment No. 4
Holly Energy Partners - Operating, L.P. 
Credit Agreement

	
					
	 
	 
	ONEWEST BANK, N.A., as a Lender

	 
	 
	 
	 
	 

	 
	 
	

By:   /s/ Sean Murphy    
Name:   Sean Murphy 
Title:    Executive Vice President

Signature Page 18  
Amendment No. 4
Holly Energy Partners - Operating, L.P. 
Credit Agreement

	
					
	 
	 
	CIT BANK, as a Lender

	 
	 
	 
	 
	 

	 
	 
	

By:   /s/ Stewart McLeod    
Name:   Stewart McLeod 
Title:    Director

Signature Page 19  
Amendment No. 4
Holly Energy Partners - Operating, L.P. 
Credit Agreement

	
					
	 
	 
	CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH, as a Lender

	 
	 
	 
	 
	 

	 
	 
	

By:   /s/ Mikhail Faybusovich    
Name:   Mikhail Faybusovich 
Title:    Authorized Signatory

By:   /s/ D. Andrew Maletta    
Name:   D. Andrew Maletta 
Title:    Authorized Signatory

Signature Page 20  
Amendment No. 4
Holly Energy Partners - Operating, L.P. 
Credit Agreement

	
					
	 
	 
	DEUTSCHE BANK TRUST COMPANY AMERICAS, as a Lender

	 
	 
	 
	 
	 

	 
	 
	

By:   /s/ Dusan Lazarov    
Name:   Dusan Lazarov 
Title:    Director 

By:   /s/ Kirk L. Tashjian    
Name:   Kirk L. Tashjian 
Title:    Director 

Signature Page 21  
Amendment No. 4
Holly Energy Partners - Operating, L.P. 
Credit Agreement

	
					
	 
	 
	FROST BANK, as a Lender

	 
	 
	 
	 
	 

	 
	 
	

By:   /s/ Lane Dodds    
Name:   Lane Dodds 
Title:    Senior Vice President 

Signature Page 22  
Amendment No. 4
Holly Energy Partners - Operating, L.P. 
Credit Agreement

	
					
	 
	 
	JPMORGAN CHASE BANK, N.A., as a Lender

	 
	 
	 
	 
	 

	 
	 
	

By:   /s/ Debra Hrelja    
Name:   Debra Hrelja 
Title:    Vice President

Signature Page 23  
Amendment No. 4
Holly Energy Partners - Operating, L.P. 
Credit Agreement

	
					
	 
	 
	MORGAN STANLEY BANK, N.A., as a Lender

	 
	 
	 
	 
	 

	 
	 
	

By:   /s/ Dmitriy Barskiy    
Name:   Dmitriy Barskiy 
Title:    Authorized Signatory

Signature Page 24  
Amendment No. 4
Holly Energy Partners - Operating, L.P. 
Credit Agreement

	
					
	 
	 
	SANTANDER BANK, NA, as a Lender

	 
	 
	 
	 
	 

	 
	 
	

By:   /s/ Aidan Lanigan    
Name:   Aidan Lanigan 
Title:    Senior Vice President 

By:   /s/ Puiki Lok    
Name:   Puiki Lok 
Title:    Vice President

Signature Page 25  
Amendment No. 4
Holly Energy Partners - Operating, L.P. 
Credit Agreement

	
					
	 
	 
	SUMITOMO MITSUI BANKING CORPORATION, NY BRANCH, as a Lender

	 
	 
	 
	 
	 

	 
	 
	

By:   /s/ James D. Weinstein    
Name:   James D. Weinstein 
Title:    Managing Director

Signature Page 26  
Amendment No. 4
Holly Energy Partners - Operating, L.P. 
Credit Agreement

	
					
	 
	 
	THE BANK OF NOVA SCOTIA, as a Lender

	 
	 
	 
	 
	 

	 
	 
	

By:   /s/ Mark Sparrow    
Name:   Mark Sparrow 
Title:    Director

Signature Page 27  
Amendment No. 4
Holly Energy Partners - Operating, L.P. 
Credit Agreement

	
					
	 
	 
	TORONTO DOMINION (NEW YORK) LLC, as a Lender

	 
	 
	 
	 
	 

	 
	 
	

By:   /s/ Marie Fernandes    
Name:   Marie Fernandes 
Title:    Authorized Signatory

Signature Page 28  
Amendment No. 4
Holly Energy Partners - Operating, L.P. 
Credit Agreement

    
	
					
	 
	 
	FIFTH THIRD BANK, as a Lender

	 
	 
	 
	 
	 

	 
	 
	

By:   /s/ Larry Hayes    
Name:   Larry Hayes 
Title:    Director – Energy Finance

Signature Page 29  
Amendment No. 4
Holly Energy Partners - Operating, L.P. 
Credit Agreement

SCHEDULE 1.01(a)

	
						
	Lender
	 
	Commitment
	 

	 
	 
	 
	 
	 
	 

	Wells Fargo Bank, National Association
	 
	$62,500,000.00
	 

	MUFG Union Bank, N.A.
	 
	$62,500,000.00
	 

	Compass Bank
	 
	$55,000,000.00
	 

	Citibank, N.A.
	 
	$55,000,000.00
	 

	U.S. Bank National Association
	 
	$55,000,000.00
	 

	Bank of America, N.A..
	 
	$47,500,000.00
	 

	Capital One, National Association
	 
	$47,500,000.00
	 

	SunTrust Bank
	 
	$37,500,000.00
	 

	UBS AG Stamford Branch
	 
	$37,500,000.00
	 

	Comerica Bank
	 
	$35,000,000.00
	 

	OneWest Bank, N.A.
	 
	$35,000,000.00
	 

	Sumitomo Mitsui Banking Corporation, NY Branch
	 
	$35,000,000.00
	 

	Toronto Dominion (New York) LLC
	 
	$35,000,000.00
	 

	Credit Suisse AG, Cayman Islands Branch
	 
	$30,000,000.00
	 

	Santander Bank, NA
	 
	$30,000,000.00
	 

	The Bank of Nova Scotia
	 
	$30,000,000.00
	 

	CIT Bank
	 
	$25,000,000.00
	 

	Fifth Third Bank
	 
	$25,000,000.00
	 

	Frost Bank
	 
	$25,000,000.00
	 

	PNC Bank, National Association
	 
	$25,000,000.00
	 

	Deutsche Bank Trust Company Americas
	 
	$20,000,000.00
	 

	JPMorgan Chase Bank, N.A.
	 
	$20,000,000.00
	 

	Morgan Stanley Bank, N.A.
	 
	$20,000,000.00
	 

TOTAL    $850,000,000.00    

Schedule 1.01(a)  
Amendment No. 4
Holly Energy Partners - Operating, L.P. 
Credit Agreement

SCHEDULE 1.01(b)

NOTICE ADDRESSES AND APPLICABLE LENDING OFFICES

		
	Borrower:
	Office:

	
		
	Holly Energy Partners - Operating, L.P.

	Address for Notices: 
2828 N. Harwood, Suite 1300
Dallas, TX 75201

Telecopier Number: (214) 237-3051
Attention: Stephen D. Wise

		
	Administrative Agent:
	Applicable Lending Offices:

	
		
	Wells Fargo Bank, National Association

	Address for Notices:
1525 West WT Harris Blvd.
Charlotte, NC 28262

Telecopier Number: (704) 590-2782
Telephone Number: (704) 590-2779
Attention:  Erika Myers

		
	Lenders:
	Applicable Lending Offices:

	
		
	Wells Fargo Bank, National Association

	U.S. Domestic Lending Office: 
1000 Louisiana, 9th Floor
Houston, TX 77002

Eurodollar Lending Office:
Same as U.S. Domestic Lending Office

Address for Notices:
Same as U.S. Domestic Lending Office

Telecopier Number: (713) 319-1832
Attention: Betsy Jocher

	MUFG Union Bank, N.A.

	U.S. Domestic Lending Office: 
445 South Figueroa Street, 15th Floor
Los Angeles, California 90071

Eurodollar Lending Office:
Same as U.S. Domestic Lending Office

Address for Notices:
Same as U.S. Domestic Lending Office

Telecopier Number: 213-236-6823
Attention:  Don Smith

Schedule 1.01(b) Page 1 
Amendment No.4
Holly Energy Partners
Operating, L.P. Credit Agreement

	
		
	Compass Bank
	U.S. Domestic Lending Office: 
2200 Post Oak Blvd., 21st Floor
Houston, Texas 77056

Eurodollar Lending Office:
Same as U.S. Domestic Lending Office

Address for Notices:
Same as U.S. Domestic Lending Office

Telecopier Number: 713-499-8722
Attention:  Blake Kirshman

	U.S. Bank National Association
	U.S. Domestic Lending Office: 
950 17th Street DN-CO-T8E
Denver, CO 80202

Eurodollar Lending Office:
Same as U.S. Domestic Lending Office

Address for Notices:
555 SW Oak, PDORP7LS
Portland, OR 97208

Telecopier Number: (303) 585-4362
Attention: Monte Deckerd

	Bank of America, N.A.
	U.S. Domestic Lending Office: 
901 Main St.
Dallas, TX 75202-3714

Eurodollar Lending Office:
Same as U.S. Domestic Lending Office

Address for Notices:
Same as U.S. Domestic Lending Office

Telecopier Number: (713) 247-7286
Attention: Ron McKaig

	Capital One, National Association
	U.S. Domestic Lending Office: 
1000 Louisiana Street, Suite 2950
Houston, TX  77002

Eurodollar Lending Office:
Same as U.S. Domestic Lending Office

Address for Notices:
Same as U.S. Domestic Lending Office

Telecopier Number: (713) 650-4930
Attention: Michael Higgins

Schedule 1.01(b) Page 2 
Amendment No.4
Holly Energy Partners
Operating, L.P. Credit Agreement

	
		
	Comerica Bank
	U.S. Domestic Lending Office: 
1717 Main Street
Dallas, TX  75201

Eurodollar Lending Office:
Same as U.S. Domestic Lending Office

Address for Notices:
Same as U.S. Domestic Lending Office

Telecopier Number: (214)-462-4240
Attention:  Kyle Weiss

	SunTrust Bank
	U.S. Domestic Lending Office: 
3333 Peachtree Street, 8th Floor
Atlanta, Georgia  30326

Eurodollar Lending Office:
Same as U.S. Domestic Lending Office

Address for Notices:
Same as U.S. Domestic Lending Office

Telecopier Number: (404)-439-7455
Attention:  Carmen Malizia

	UBS AG Stamford Branch
	U.S. Domestic Lending Office: 
677 Washington Blvd.
Stamford, CT  06901

Eurodollar Lending Office:
Same as U.S. Domestic Lending Office

Address for Notices:
Same as U.S. Domestic Lending Office

Telecopier Number: (203)-719-3390
Attention:  Banking Products Services

	PNC Bank, National Association
	U.S. Domestic Lending Office: 
Two Tower Center Blvd., 21st Floor
East Brunswick, NJ  08816

Eurodollar Lending Office:
Same as U.S. Domestic Lending Office

Address for Notices:
Same as U.S. Domestic Lending Office

Telecopier Number: (214)-871-2015
Attention:  Andrew Bae

Schedule 1.01(b) Page 3 
Amendment No.4
Holly Energy Partners
Operating, L.P. Credit Agreement

	
		
	Citibank, N.A.
	U.S. Domestic Lending Office: 
1615 Brett Road, Building III
New Castle, DE 19720

Eurodollar Lending Office:
Same as U.S. Domestic Lending Office

Address for Notices:
Same as U.S. Domestic Lending Office

Telecopier Number: (212) 994-0847
Attention: GLOriginationOps

	OneWest Bank, N.A.
	U.S. Domestic Lending Office: 
888 East Walnut Street
Pasadena, CA  91101

Eurodollar Lending Office:
Same as U.S. Domestic Lending Office

Address for Notices:
Same as U.S. Domestic Lending Office

Telecopier Number: (866) 518-6540
Attention: Olga Fomina

	CIT Bank
	U.S. Domestic Lending Office: 
11 West 42nd Street
New York, New York  10036

Eurodollar Lending Office:
Same as U.S. Domestic Lending Office

Address for Notices:
Same as U.S. Domestic Lending Office

Telecopier Number: (212) 771-6023
Attention: Michael Cerniglia

	Credit Suisse AG, Cayman Islands Branch
	U.S. Domestic Lending Office: 
Eleven Madison Ave.
New York, New York 10010

Eurodollar Lending Office:
Same as U.S. Domestic Lending Office

Address for Notices:
Same as U.S. Domestic Lending Office

Telecopier Number: (646) 935-8518
Attention: Mikhail Faybusovich

Schedule 1.01(b) Page 4 
Amendment No.4
Holly Energy Partners
Operating, L.P. Credit Agreement

	
		
	Deutsche Bank Trust Company Americas
	U.S. Domestic Lending Office: 
60 Wall Street
New York, New York 10005-2858

Eurodollar Lending Office:
Same as U.S. Domestic Lending Office

Address for Notices:
Same as U.S. Domestic Lending Office

Telecopier Number: (212) 507-3620
Attention: Kevin Chichester

	Frost Bank
	U.S. Domestic Lending Office: 
100 W. Houston Street, #RB-2
San Antonio, Texas  78205

Eurodollar Lending Office:
Same as U.S. Domestic Lending Office

Address for Notices:
Same as U.S. Domestic Lending Office

Telecopier Number: (713) 388-7607
Attention: Lane Dodds

	JPMorgan Chase Bank, N.A.
	U.S. Domestic Lending Office: 
712 Main Street, 12th Floor, Central, MC TS2-NO86
Houston, Texas  77002

Eurodollar Lending Office:
Same as U.S. Domestic Lending Office

Address for Notices:
Same as U.S. Domestic Lending Office

Telecopier Number: (713) 216-8870
Attention: Debra Hrelja

	Morgan Stanley Bank, N.A.
	U.S. Domestic Lending Office: 
1585 Broadway
New York, New York  10036
Eurodollar Lending Office:
Same as U.S. Domestic Lending Office

Address for Notices:
Same as U.S. Domestic Lending Office

Telecopier Number: (801) 236-3600
Attention: Michael King

Schedule 1.01(b) Page 5 
Amendment No.4
Holly Energy Partners
Operating, L.P. Credit Agreement

	
		
	Santander Bank, NA
	U.S. Domestic Lending Office: 
45 East 53rd Street, 10th Floor
New York, New York  10022

Eurodollar Lending Office:
Same as U.S. Domestic Lending Office

Address for Notices:
Same as U.S. Domestic Lending Office

Telecopier Number: (212) 297-2927
Attention: Brian Curran/Aidan Lanigan

	Sumitomo Mitsui Banking Corporation, NY Branch
	U.S. Domestic Lending Office: 
277 Park Avenue
New York, New York 10172
Eurodollar Lending Office:
Same as U.S. Domestic Lending Office

Address for Notices:
Same as U.S. Domestic Lending Office

Telecopier Number: (713) 277-3555
Attention: Luis Vaca

	Toronto Dominion (New York) LLC
	U.S. Domestic Lending Office: 
31 West 52nd Street
New York, New York 10019-6101

Eurodollar Lending Office:
Same as U.S. Domestic Lending Office

Address for Notices:
Same as U.S. Domestic Lending Office

Telecopier Number: (713) 653-8221
Attention: Jonathan Schwartz

	The Bank of Nova Scotia
	U.S. Domestic Lending Office: 
711 Louisiana Street, Suite 1400
Houston, Texas  77002

Eurodollar Lending Office:
Same as U.S. Domestic Lending Office

Address for Notices:
Same as U.S. Domestic Lending Office

Telecopier Number: (713) 752-2425
Attention: John Frazell

Schedule 1.01(b) Page 6 
Amendment No.4
Holly Energy Partners
Operating, L.P. Credit Agreement

	
		
	Fifth Third Bank
	U.S. Domestic Lending Office: 
1001 Fannin, Suite 4750
Houston, Texas  77002

Eurodollar Lending Office:
Same as U.S. Domestic Lending Office

Address for Notices:
Same as U.S. Domestic Lending Office

Telecopier Number: (713) 658-0078
Attention:   Larry Hayes

                                

Schedule 1.01(b) Page 7 
Amendment No.4
Holly Energy Partners
Operating, L.P. Credit Agreementexhibit_10-1.htm

  

  

  

MAY 1995

AMENDED AS OF APRIL 29, 2015

BY-LAWS

OF

PROVIDENCE AND WORCESTER RAILROAD COMPANY

ARTICLE I

OFFICES

The corporation may have offices at such places either within or without the State of Rhode Island as the Board of Directors may from time to time determine or the business of the corporation may require.

ARTICLE II

MEETINGS OF STOCKHOLDERS

Section 1.  All annual meetings of the stockholders for the election of directors shall be held within or without the State of Rhode Island at such place as may be fixed from time to time by the Board of Directors; at least ten days' notice shall be given to the stockholders of the place so fixed. Meetings of stockholders for any other purpose may be held at such time and place, within or without the State of Rhode Island, as shall be stated in the notice of the meeting.

Section 2.  Annual meetings of stockholders, commencing with the year 1988, shall be held on the last Wednesday of April if not a legal holiday, and if a legal holiday, then on the secular day following, at which the stockholders shall elect a Board of Directors and transact such other business as may properly be brought before the meeting.

Section 3.  Written notice of the annual meeting shall be given to each stockholder of record at least ten days before the date of the meeting.

Section 4.  Special meetings of the stockholders, for any purpose or purposes, may be called by the President, or by the Chairman if there be a Chairman, and shall be called by the President or Secretary at the request in writing of a majority of the Board of Directors. Such request shall state the purpose or purposes of the proposed meeting.

Section 5.  Written notice of any special meeting of stockholders, stating the time, place and purpose thereof, shall be given to each stockholder of record at least ten days before the date fixed for the meeting.

Section 6.  Business transacted at any special meeting of stockholders shall be limited to the purposes stated in the notice.

Section 7.  Stockholders representing a majority of each class of the shares entitled to vote, present in person or represented by proxy, shall constitute a quorum at all meetings of the stockholders for the transaction of business. If, however, such quorum shall not be present or represented at any meeting of the stockholders, the stockholders present in person or represented by proxy, shall have the power to adjourn the meeting from time to time, without notice other than announcement at the meeting, until a quorum shall be present or represented. At such adjourned meeting at which a quorum shall be present or represented any business may be transacted at the meeting as originally notified.

ARTICLE. III

DIRECTORS

Section 1.  The number of directors which shall constitute the whole Board of Directors shall be not less than six [Amended December 12, 1995] nor more than fifteen [Amended December 12, 1995]. Within the foregoing limits, the number of directors to constitute the whole Board shall be fixed by vote of the Board of Directors at any regular or special meeting of the Board of Directors, or by the stockholders at the annual meeting. If, pursuant to the foregoing authority, the number of directors constituting the whole Board shall be decreased, such decrease shall not be effective with respect to the terms of directors then holding office until the next annual meeting of stockholders. The directors shall be elected at the annual meeting of the stockholders, except as provided in Section 2 of this Article, and each director elected shall hold office until his successor is elected and qualified. [Amended as of April 27, 2005.]  No person who is not a shareholder of the corporation shall be eligible to serve as a director of the corporation. Any director who, during the period beginning with his or her first election to office and ending on the December 31 next following such election, or during any calendar year thereafter, attends less than seventy-five percent (75%) of either (i) the total number of meetings of the Board of Directors held during such period, or (ii) the total number of meetings held by all committees of the Board of Directors on which he or she shall have served during such period, shall be ineligible for re-election as a director upon the expiration of his or her term as a director; provided, that a majority of the remaining directors may waive such requirement upon receipt of evidence satisfactory to them that the failure of any director to satisfy the foregoing requirements was due to medical reasons. [Amended April 26, 1995]

Section 2.  Vacancies in the Board of Directors may be filled in the manner provided in the charter. A vacancy or vacancies shall be deemed to exist at any time the number of directors then in office is less than the whole Board as provided in Section 1, above.

Section 3.  The business of the corporation shall be managed by its Board of Directors, which may exercise all powers of the corporation and do all such lawful acts and things as are not by statute or by the charter or by these by-laws directed or required to be exercised or done by the stockholders.

Section 4.  The Board of  Directors of the corporation may hold meetings, both regular and special, either within or without the State of Rhode Island.

Section 5.  The Board of Directors shall hold a meeting immediately after each annual meeting of stockholders, at which meeting they shall elect a President, a Vice President, a Treasurer, a Secretary, and such other officers as they may deem appropriate, provided, however, that they may adjourn said meeting to such time as they see fit and elect said officers at said adjourned meeting. They may also, at any annual meeting, or at any adjournment thereof, transact any other business which may be properly brought before them. Regular quarterly meetings of the directors shall be held on the last Wednesdays in the months of July, October, January and April. Special meetings of the directors shall be held upon the call of the President, or by the Chairman if there be a Chairman, as hereinafter provided. The Secretary shall give each director notice, by mail, at least twenty-four hours before any meeting, whether regular or special (except the first meeting), of the time and place of such meeting. But in the case of necessity, such notice may be given at such time and in such manner as the President or the Chairman may direct.

Section 6.  At all meetings of the Board of Directors the presence of both (i) a majority of the directors, and (ii) a majority of the directors elected by the holders of the corporation's Preferred Stock (including any director elected to fill any vacancy resulting from the resignation, death or removal of a director elected by such holders), shall constitute a quorum for the transaction of business and the act of a majority of the directors present at any meeting at which there is a quorum shall be the act of the Board of Directors. If a quorum shall not be present at any meeting of the Board of Directors, the directors present thereat may adjourn the meeting from time to time, without notice other than announcement at the meeting, until a quorum shall be present.

Section 7.  The Board of Directors may, by resolution passed by a majority of the directors, designate one or more committees, each committee to consist of three or more of the directors of the corporation, which, to the extent provided in the resolution, shall have and may exercise the powers of the Board of Directors in the management of the business and affairs of the corporation and may authorize the seal of the corporation to be affixed to all papers which may require it. Such committee or committees shall have such name or names as may be determined from time to time by resolution adopted by the Board of Directors.

Section 8.  The committees shall keep regular minutes of  their proceedings and report the same to the Board of Directors when required.

Section 9.  Members of the Board of Directors or any committee designated hereby may participate in any special meeting of the Board or any meeting of such committee by means of a conference telephone or similar communications equipment, by means of which all persons participating in the meeting can hear each other at the same time, and participation by such means shall constitute presence at any such meeting.  Directors may be paid their expenses, if any, of attendance at each meeting of the Board of Directors or any committee designated by the Board, and directors who are not also full-time employees of the corporation may be paid a fixed sum for attendance at each meeting of the Board at which a quorum is present, whether regular or special, and at each meeting of any such committee attended in person and at which a majority of the members are present, such fixed sum to be determined in each case by the Board of Directors. [Amended April 26, 1995]

Section 10.  A director may be removed, with or without cause, only in the manner provided in the charter.

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ARTICLE IV

OFFICERS

Section 1.  The officers of the corporation shall include a President, a Vice President, a Secretary and a Treasurer. The offices of Treasurer and Secretary may be held by the same person.

Section 2.  The Board of Directors may appoint such other officers and agents, including a Chairman, as it shall deem necessary, who shall hold their offices for such terms as shall be determined from time to time by the Board.

Section 3.  [Deleted April 26, 2006]

Section 4.  Any officer elected or appointed by the Board of Directors may be removed at any time by the affirmative vote of a majority of the Board of Directors. Any vacancy occurring in any office of the corporation by death, resignation, removal or otherwise shall be filled by the Board of Directors.

Section 5.  The Chairman, if any, shall be the chief executive officer of the corporation; the President shall be the chief operating officer of the corporation; and the Treasurer shall be the chief financial officer of the corporation. If no Chairman is elected, qualified and acting, the President shall also be the chief executive officer of the corporation. The other officers of the corporation shall have the powers and shall perform the duties customarily appurtenant to their respective offices, and shall have such further power and shall perform such further duties as shall be from time to time assigned to them.

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ARTICLE V

CERTIFICATES OF STOCK

Section 1.  Every holder of stock in the corporation shall be entitled to have a certificate, signed by, or in the name of, the corporation, by the President and Treasurer or Secretary, certifying the number and class of shares owned by him in the corporation.

Section 2.  Where a certificate is signed (1) by a transfer agent or an assistant transfer agent or (2) by a transfer clerk acting on behalf of the corporation and a registrar, the signature of any such President, Secretary or Treasurer may be facsimile. In case any officer or officers who have signed, or whose facsimile signature or signatures have been used on, any such certificate or certificates shall cease to be such officer or officers of the corporation, whether because of death, resignation or otherwise, before such certificate or certificates have been delivered by the corporation, such certificate or certificates may nevertheless be adopted by the corporation and be issued and delivered as though the person or persons who signed such certificate or certificates or whose facsimile signature has been used thereon, had not ceased to be such officer or officers of the corporation.

Section 3.  The Board of Directors may direct a new certificate or certificates to be issued in place of any certificate or certificates theretofore issued by the corporation alleged to have been lost or destroyed, upon the making of an affidavit of that fact by the person claiming the certificate of stock to be lost or destroyed. When authorizing such issue of a new certificate or certificates, the Board of Directors may, in its discretion and as a condition precedent to the issuance thereof, require the owner of such lost or destroyed certificate or certificates, or his legal representative, to advertise the same in such manner as it shall require and/or to give the corporation a bond in such sum as it may direct as indemnify against any claim that may be made against the corporation with respect to the certificate alleged to have been lost or destroyed.

Section 4.  Upon surrender to the corporation or the transfer agent of the corporation of a certificate for shares duly endorsed or accompanied by proper evidence of succession, assignment or authority to transfer, it shall be the duty of the corporation to issue a new certificate to the person entitled thereto, cancel the old certificate and record the transaction upon its books.

Section 5.  The corporation shall be entitled to recognize the exclusive right of a person registered on its books as the owner of shares to receive dividends, and to vote as such owner, and shall not be bound to recognize any equitable or other claim to or interest in such share or shares on the part of any other person, whether or not it shall have express or other notice thereof.

ARTICLE VI

INDEMNIFICATION OF OFFICERS

The corporation shall indemnify, to the full extent permitted by law from time to time, any person who is or was an officer of the corporation and any person who, while an officer of the corporation, is or was serving at the request of the corporation as a director, officer, partner, trustee, employee or agent of another foreign or domestic corporation, partnership, joint venture, trust, other enterprise or employee benefit plan, against all judgments, penalties, fines, settlements and reasonable expenses actually incurred by such person in connection with any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative or investigative, in which such person was, is or is threatened to be made a named defendant or respondent by reason of the fact that such person is serving or at any time was serving in one or more of the capacities set forth above.

ARTICLE VII

GENERAL PROVISIONS

Section 1.  The President shall present at each annual meeting a statement of the business and condition of the corporation.

Section 2.  All checks and notes of the corporation shall be signed by such officer or officers or such other person persons as the Board of Directors may from time to time designate.

Section 3.  The fiscal year of the corporation shall end on the thirty-first day of December in each year.

Section 4.  The corporate seal shall have the inscribed thereon the name of the corporation, the year of its organization and the words "Incorporated 1969 Rhode Island". The seal may be used by causing it or a facsimile thereof to be impressed, affixed or reproduced or otherwise.

Section 5.  Exclusive Forum.  Unless the corporation consents in writing to the selection of an alternative forum, the sole and exclusive forum for (i) any derivative action or proceeding brought on behalf of the corporation, (ii) any action asserting a claim of breach of a fiduciary duty owed by any director or officer or other employee of the corporation to the corporation or the corporation’s stockholders, (iii) any action asserting a claim against the corporation or any director or officer or other employee of the corporation arising pursuant to any provision of the Rhode Island Business Corporation Act or the corporation’s legislative charter, as heretofore amended, or Bylaws (as either may be amended from time to time), or (iv) any action asserting a claim against the corporation or any director or officer or other employee of the corporation governed by the internal affairs doctrine shall be a state court located within the State of Rhode Island (or, if no state court located within the State of Rhode Island has jurisdiction, the United States District Court for the District of Rhode Island). [Amended April 29, 2015]

ARTICLE VIII

REPEAL AND AMENDMENT OF BY-LAWS

These By-laws may be amended or repealed at any annual or special meeting of the stockholders, provided that they shall not be amended or repealed at a special meeting unless notice that it is proposed to amend or repeal them is given by the Secretary in the notice of such meeting. The Board of Directors shall not have authority to amend these By-Laws.

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