Common use of Bad Leaver Clause in Contracts

Bad Leaver. If a Participant’s Service is terminated by the Company for Cause at any time or by the Participant without Good Reason before the third anniversary of the Grant Date, then all Phantom Units, whether vested or unvested, shall be automatically and immediately forfeited for no consideration.

Bad Leaver. If a Participant’s Service is terminated by the Company for Cause at any time or by the Participant without Good Reason before the third anniversary of the Grant DateReason, then all Phantom Units, whether vested or unvested, shall be automatically and immediately forfeited for no consideration.