DER. During the Restricted Period, the Award of Phantom Units hereunder shall be evidenced by entry in a bookkeeping account and shall include a tandem DER. Pursuant to the DER, as of each date that a cash distribution is made with respect to Units, the Grantee shall be entitled to receive a cash payment with respect to each Phantom Unit then outstanding equal to the cash distribution made by the Partnership with respect to each Unit.
Appears in 3 contracts
Sources: Employee Phantom Unit Award Agreement (K-Sea Transportation Partners Lp), Phantom Unit Award Agreement (K-Sea Transportation Partners Lp), Employee Phantom Unit Award Agreement (K-Sea Transportation Partners Lp)