Unit Distributions. On each date on which the Company makes a Distribution, the Grantee’s Account shall be credited with that number of Deferred Common Units equal to (a) the product of (i) the amount of cash or the fair market value of other property paid in such Distribution multiplied by (ii) the number of Deferred Common Units in the Grantee’s Account divided by (b) the Fair Market Value on the date of such Distribution.
Appears in 5 contracts
Samples: Deferred Common Unit Award Agreement (Penn Virginia Resource Partners L P), Deferred Common Unit Grant Agreement (Penn Virginia GP Holdings, L.P.), Deferred Common Unit Grant Agreement (Penn Virginia Resource Partners L P)
Unit Distributions. On each date on which the Company makes a Distribution, the Grantee’s Account shall be credited with that number of Deferred Common Units equal to (ax) the product of (i) the amount of cash or the fair market value of other property paid in such Distribution multiplied by (ii) the number of Deferred Common Units in the Grantee’s Account divided by (by) the Fair Market Value on the date of such Distribution.
Appears in 1 contract
Samples: Deferred Common Unit Grant Agreement (Penn Virginia GP Holdings, L.P.)
