Common use of Potential Six-Month Delay Clause in Contracts

Potential Six-Month Delay. Notwithstanding anything to the contrary in this Agreement, no amounts payable under this Agreement shall be paid to the Participant prior to the expiration of the 6-month period following his “separation from service” (within the meaning of Treasury Regulation Section 1.409A-1(h)) (a “Separation from Service”) to the extent that the Company determines that paying such amounts prior to the expiration of such 6-month period would result in a prohibited distribution under Section 409A(a)(2)(B)(i) of the Code. If the payment of any such amounts is delayed as a result of the previous sentence, then on the first business day following the end of the applicable 6-month period (or such earlier date upon which such amounts can be paid under Section 409A of the Code without resulting in a prohibited distribution, including as a result of the Participant’s death), such amounts shall be paid to the Participant.

Appears in 7 contracts

Samples: Performance Phantom Unit Agreement (Andeavor Logistics Lp), Performance Phantom Unit Agreement (Tesoro Logistics Lp), Performance Phantom Unit Agreement (Tesoro Logistics Lp)

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Potential Six-Month Delay. Notwithstanding anything to the contrary in this Agreement, no amounts payable under this Agreement shall be paid to the Participant prior to the expiration of the 6six-month period following his “separation from service” (within the meaning of Treasury Regulation Section 1.409A-1(h)) (a “Participant’s Separation from Service”) Service to the extent that the Company reasonably determines that paying such amounts prior to the expiration of such 6six-month period would result in a prohibited distribution under Section 409A(a)(2)(B)(i) of the Code. If the payment of any such amounts is delayed as a result of the previous sentence, then on the first business day following the end of the applicable 6six-month period (or such earlier date upon which such amounts can be paid under Code Section 409A of the Code without resulting in a prohibited distribution, including as a result of the Participant’s death), such amounts shall be paid to the Participant.

Appears in 5 contracts

Samples: Restricted Phantom Unit Agreement (Breitburn Energy Partners LP), Restricted Phantom Unit Agreement (Breitburn Energy Partners LP), Restricted Phantom Unit Agreement (Breitburn Energy Partners LP)

Potential Six-Month Delay. Notwithstanding anything to the contrary in this Agreement, no amounts payable under this Agreement shall be paid to the Participant prior to the expiration of the 6-month six (6)-month period following his “separation from service” (within the meaning of Treasury Regulation Section 1.409A-1(h)) (a “Separation from Service”) to the extent that the Company determines that paying such amounts prior to the expiration of such 6-month six (6)-month period would result in a prohibited distribution under Section 409A(a)(2)(B)(i) of the Code. If the payment of any such amounts is delayed as a result of the previous sentence, then on the first business day following the end of the applicable 6-month six (6)-month period (or such earlier date upon which such amounts can be paid under Section 409A of the Code without resulting in a prohibited distribution, including as a result of the Participant’s death), such amounts shall be paid to the Participant.

Appears in 4 contracts

Samples: Phantom Unit Agreement (Summit Midstream Partners, LP), Phantom Unit Agreement (Summit Midstream Partners, LP), Performance Vesting Agreement (Emerge Energy Services LP)

Potential Six-Month Delay. Notwithstanding anything to the contrary in this Agreement, no amounts payable under this Agreement shall be paid to the Participant prior to under this Agreement during the expiration of the 6six-month period following his the Participant’s “separation from service” (within the meaning of Treasury Regulation Section 1.409A-1(h)) (a “Separation from Service”) to the extent that the Company Administrator determines that the Participant is a “specified employee” (each within the meaning of Section 409A of the Code) at the time of such separation from service and that paying such amounts prior to at the expiration of such 6-month period time or times indicated in this Agreement would result in be a prohibited distribution under Code Section 409A(a)(2)(B)(i) of the Code409A(a)(2)(b)(i). If the payment of any such amounts is delayed as a result of the previous sentence, then on the first business day following the end of the applicable 6such six-month period (or such earlier date upon which such amounts amount can be paid under Section 409A of the Code without resulting being subject to such additional taxes), the Company shall pay to the Participant in a prohibited distribution, including as a result of the Participant’s death), such lump-sum all amounts shall be paid that would have otherwise been payable to the ParticipantParticipant during such six-month period under this Agreement.

Appears in 4 contracts

Samples: Performance Unit Agreement (Hudson Pacific Properties, L.P.), Performance Unit Agreement (Hudson Pacific Properties, L.P.), Performance Unit Agreement (Hudson Pacific Properties, L.P.)

Potential Six-Month Delay. Notwithstanding anything to the contrary in this Agreement, no amounts payable under this Agreement shall be paid to the Participant prior to the expiration of the 6-month six (6)-month period following his or her “separation from service” (within the meaning of Treasury Regulation Section 1.409A-1(h)) (a “Separation from Service”) to the extent that the Company determines that paying such amounts prior to the expiration of such 6-month six (6)-month period would result in a prohibited distribution under Section 409A(a)(2)(B)(i) of the Code. If the payment of any such amounts is delayed as a result of the previous sentence, then on the first business day following the end of the applicable 6-month six (6)-month period (or such earlier date upon which such amounts can be paid under Section 409A of the Code without resulting in a prohibited distribution, including as a result of the Participant’s death), such amounts shall be paid to the Participant.

Appears in 3 contracts

Samples: 2020 Ltip Grant Award Agreement (Summit Midstream Partners, LP), Ltip Grant Award Agreement (Summit Midstream Partners, LP), Ltip Grant Award Agreement (Summit Midstream Partners, LP)

Potential Six-Month Delay. Notwithstanding anything to the contrary in this Award Agreement, no amounts payable under this Award Agreement shall be paid to the Participant prior to the expiration of the 6six-month period following his “separation from service” (within the meaning of Treasury Regulation Section 1.409A-1(h)) (a “Separation from Service”) to the extent that the Company determines that paying such amounts prior to the expiration of such 6six-month period would result in a prohibited distribution under Section 409A(a)(2)(B)(i) of the Code. If the payment of any such amounts is delayed as a result of the previous sentence, then on the first business day following the end of the applicable 6six-month period (or such earlier date upon which such amounts can be paid under Section 409A of the Code without resulting in a prohibited distribution, including as a result of the Participant’s death), such amounts shall be paid to the Participant.

Appears in 2 contracts

Samples: 2018 Incentive Compensation Plan (MPLX Lp), Phantom Unit Award Agreement (MPLX Lp)

Potential Six-Month Delay. Notwithstanding anything to the contrary in this Agreement, no amounts payable under this Agreement shall be paid to the Participant prior to the expiration of the 6-month period following his “separation from service” (within the meaning of Treasury Regulation Section 1.409A-1(h)) (a “Separation from Service”) to the extent that the Company determines that paying such amounts prior to the expiration of such 6-month period would result in a prohibited distribution under Section 409A(a)(2)(B)(i) of the Code. If the payment of any such amounts is delayed as a result of the previous sentence, then on the first business day following the end of the applicable 6-month period (or such earlier date upon which such amounts can be paid under Section 409A of the Code without resulting in a prohibited distribution, including as a result of the Participant’s 's death), such amounts shall be paid to the Participant.

Appears in 2 contracts

Samples: Performance Phantom Unit Agreement (Tesoro Logistics Lp), Phantom Unit Agreement (Tesoro Logistics Lp)

Potential Six-Month Delay. Notwithstanding anything to the contrary in this Agreement, no amounts payable under this Agreement Shares (or other amounts) shall be paid to the Participant prior to during the expiration of the 6-month six (6)-month period following his the Participant’s “separation from service” (within the meaning of Code Section 409A, and Treasury Regulation Section 1.409A-1(h)) (a “Separation from Service”) to the extent that the Company determines that the Participant is a “specified employee” (within the meaning of Code Section 409A) at the time of such Separation from Service and that paying such amounts prior to at the expiration of such 6-month period time or times indicated in this Agreement would result in be a prohibited distribution under Code Section 409A(a)(2)(B)(i) of the Code409A(a)(2)(b)(i). If the payment of any such amounts is delayed as a result of the previous sentence, then on the first (1st) business day following the end of the applicable 6-month such six (6)-month period (or such earlier date upon which such amounts amount can be paid under Section 409A of the Code without resulting in a prohibited distribution, including as a result of the Participant’s death), such amounts shall be paid to the Participant.paid

Appears in 1 contract

Samples: Plan Restricted Stock Unit Agreement (Parkway, Inc.)

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Potential Six-Month Delay. Notwithstanding anything to the contrary in this Agreement, no amounts amount payable under this Agreement shall be paid to the Participant prior to the expiration of the 6-month six (6)-month period following his “separation from service” (within the meaning of Treasury Regulation Section 1.409A-1(h)) (a “Separation from Service”) ), to the extent that the Company [reasonably] determines that paying such amounts amount prior to the expiration of such 6-month six (6)-month period would result in a prohibited distribution under Section 409A(a)(2)(B)(i) of the Code. If the payment of any such amounts amount is delayed as a result of the previous sentence, then on the first business day following the end of the applicable 6-month six (6)-month period (or such earlier date upon which such amounts amount can be paid under Section 409A of the Code without resulting in a prohibited distribution, including as a result of the Participant’s death), such amounts amount shall be paid to the Participant.

Appears in 1 contract

Samples: Time Vesting Agreement (Emerge Energy Services LP)

Potential Six-Month Delay. Notwithstanding anything to the contrary in this Agreement, no amounts payable under this Agreement shall be paid to the Participant prior to under this Agreement issued in accordance herewith during the expiration of the 6-six (6)- month period following his the Participant’s “separation from service” (within the meaning of Treasury Regulation Section 1.409A-1(h)) (a “Separation from Service”) to the extent that the Company Administrator determines that the Participant is a “specified employee” (each within the meaning of Section 409A) at the time of such separation from service and that paying such amounts prior to at the expiration of such 6-month period time or times indicated in this Agreement would result in be a prohibited distribution under Code Section 409A(a)(2)(B)(i) of the Code409A(a)(2)(b)(i). If the payment of any such amounts is delayed as a result of the previous sentence, then on the first business day following the end of the applicable 6-month such six (6)-month period (or such earlier date upon which such amounts amount can be paid under Section 409A of the Code without resulting in a prohibited distribution, including as a result of the Participant’s death), being subject to such amounts shall be paid to the Participant.additional 5 US-DOCS\104383499.4

Appears in 1 contract

Samples: Unit Agreement (Hudson Pacific Properties, L.P.)

Potential Six-Month Delay. Notwithstanding anything to the contrary in this Agreement, no amounts payable under this Agreement shall be paid to the Participant prior to the expiration of the 6-month six (6)-month period following his or her “separation from service” (within the meaning of Treasury Regulation Section 1.409A-1(h)) (a “Separation from Service”) to the extent that the Company determines that paying such amounts prior to the expiration of such 6-month six (6)-month period would result in a prohibited distribution under Section 409A(a)(2)(B)(i) of the Code. If the payment of any such amounts is delayed as a result of the previous sentence, then on the first business day following the end of the applicable 6-month six (6)-month period (or such earlier date upon which such amounts can be paid under Section 409A of the Code without resulting in a prohibited distribution, including as a result of the Participant’s death), such amounts shall be paid to the Participant, without interest. 6.

Appears in 1 contract

Samples: Summit Midstream Partners, LP

Potential Six-Month Delay. Notwithstanding anything to the contrary in this Agreement, no amounts payable under this Agreement shall be paid to the Participant prior to the expiration of the 6-month six (6)-month period following his or her “separation from service” (within the meaning of Treasury Regulation Section 1.409A-1(h)) (a “Separation from Service”) to the extent that the Company determines that paying such amounts prior to the expiration of such 6-month six (6)-month period would result in a prohibited distribution under Section 409A(a)(2)(B)(i) of the Code. If the payment of any such amounts is delayed as a result of the previous sentence, then on the first business day following the end of the applicable 6-month six (6)-month period (or such earlier date upon which such amounts can be paid under Section 409A of the Code without resulting in a prohibited distribution, including as a result of the Participant’s death), such amounts shall be paid to the Participant, without interest.

Appears in 1 contract

Samples: Grant Award Agreement (Summit Midstream Partners, LP)

Potential Six-Month Delay. Notwithstanding anything to the contrary in this Agreement, no amounts payable under this Agreement shall be paid to the Participant prior to the expiration of the 6-month six (6)-month period following his “separation from service” (within the meaning of Treasury Regulation Section 1.409A-1(h)409A of the Code) (a “Separation from Service”) to the extent that the Company determines that paying such amounts prior to the expiration of such 6-month six (6)-month period would result in a prohibited distribution under Section 409A(a)(2)(B)(i) of the Code. If the payment of any such amounts is delayed as a result of the previous sentence, then on the first business day following the end of the applicable 6-month six (6)-month period (or such earlier date upon which such amounts can be paid under Section 409A of the Code without resulting in a prohibited distribution, including as a result of the Participant’s death), such amounts shall be paid to the Participant.

Appears in 1 contract

Samples: Unit Agreement (Rentech Nitrogen Partners, L.P.)

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