PDR Equalization Units. For purposes of this Agreement, “PDR Equalization Units” means a number of Units equal to the quotient obtained by dividing (i) the dollar value of the difference of (A) the actual aggregate amount paid in respect of all PDRs from the Grant Date through the Payment Date (the “Actual PDR Payments”), minus (B) the aggregate amount that would have been paid during the period from the Grant Date through the Payment Date in respect of the PDRs had they originally been granted in tandem with that number of CPUs equal to the aggregate number of CUEs underlying the CPUs as of the applicable Vesting Date (the “Notional PDR Payments”), by (ii) the Fair Market Value of a Unit on the Vesting Date. If the dollar value of the Actual PDR Payments does not exceed the dollar value of the Notional PDR Payments with respect to any vesting CPU, then the PDR Equalization Units shall equal zero with respect to such CPU.
Appears in 2 contracts
Sources: Convertible Phantom Unit Agreement (BreitBurn Energy Partners L.P.), Convertible Phantom Unit Agreement (BreitBurn Energy Partners L.P.)
PDR Equalization Units. For purposes of this Agreement, “PDR Equalization Units” means a number of Units equal to the quotient obtained by dividing (i) the dollar value of the difference of between (A) the actual aggregate amount paid in respect number of all CPUs credited to the Participant as a result of PDRs from the Grant Date through the Payment Date (the “Actual PDR PaymentsPDRs”), minus and (B) the aggregate amount number of CPUs that would have been paid credited to the Participant as a result of PDRs during the period from the Grant Date through the Payment Date in respect of had the PDRs had they originally been granted in tandem with that number of CPUs equal to the aggregate number of CUEs underlying the CPUs as of the applicable Vesting Date (the “Notional PDR PaymentsPDRs ”), by (ii) the Fair Market Value of a Unit on the Vesting Date. If the dollar value number of the Actual PDR Payments PDRs does not exceed the dollar value number of the Notional PDR Payments PDRs with respect to any vesting CPU, then the PDR Equalization Units shall equal zero with respect to such CPU.
Appears in 2 contracts
Sources: Convertible Phantom Unit Agreement (BreitBurn Energy Partners L.P.), Convertible Phantom Unit Agreement (BreitBurn Energy Partners L.P.)
PDR Equalization Units. For purposes of this Agreement, “PDR Equalization Units” means a number of Units equal to the quotient obtained by dividing (i) the dollar value of the difference of (Abetween(A) the actual aggregate amount paid in respect number of all CPUs credited to the Participant as a result of PDRs from the Grant Date through the Payment Date (the “Actual PDR PaymentsPDRs”), minus and (B) the aggregate amount number of CPUs that would have been paid credited to the Participant as a result of PDRs during the period from the Grant Date through the Payment Date in respect of had the PDRs had they originally been granted in tandem with that number of CPUs equal to the aggregate number of CUEs underlying the CPUs as of the applicable Vesting Date (the “Notional PDR PaymentsPDRs”), by (ii) the Fair Market Value of a Unit on the Vesting Date. If the dollar value number of the Actual PDR Payments PDRs does not exceed the dollar value number of the Notional PDR Payments PDRs with respect to any vesting CPU, then the PDR Equalization Units shall equal zero with respect to such CPU.
Appears in 1 contract
Sources: Convertible Phantom Unit Agreement (BreitBurn Energy Partners L.P.)