Common use of No Rights as Unitholder Clause in Contracts

No Rights as Unitholder. The Participant shall not have the right to vote with respect to any Phantom Units or otherwise have any rights as a unitholder with respect thereto. This Grant shall not create or be construed to create a trust or separate fund of any kind or a fiduciary relationship between the Company or an Affiliate and the Participant or any other person. To the extent that any person acquires a right to receive payments from the Company or an Affiliate pursuant to this Grant, such right shall be no greater than the right of any unsecured general creditor of the Company.

Appears in 4 contracts

Samples: Phantom Unit Grant Agreement (Atlas Pipeline Partners Lp), August (Atlas Pipeline Partners Lp), Phantom Unit Grant Agreement (Atlas Pipeline Holdings, L.P.)

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