Common use of Grant of Tandem DER Clause in Contracts

Grant of Tandem DER. Each Phantom Unit granted hereunder is hereby granted in tandem with a corresponding DER, which shall remain outstanding from the Grant Date until the earlier of the payment or forfeiture of the related Phantom Unit, and which shall be subject to all of the terms and conditions contained in this Agreement and the Plan. Each DER shall entitle the Participant to receive payments, in accordance with Section 5 below, in an amount equal to any distributions made by the Partnership following the Grant Date in respect of the Unit underlying the Phantom Unit to which such DER relates. Notwithstanding the foregoing, unless otherwise determined by the Committee in its discretion, no payments shall be made after the date of the Participant’s termination of Service with respect to DERs that correspond to unvested Phantom Units, regardless of whether such Phantom Units have yet been forfeited.