SpinCo Unit Options. Each SpinCo Unit Option that is outstanding immediately following the Effective Time shall, as of immediately following the Effective Time, become fully vested (to the extent not already vested) and be cancelled and converted into the right to receive an amount in cash, without interest, equal to the Spread Value of such SpinCo Unit Option. Any SpinCo Unit Option that has Spread Value equal to zero shall be cancelled for no consideration.
Appears in 6 contracts
Samples: Employee Matters Agreement (Atlas Energy, L.P.), Employee Matters Agreement (Targa Resources Partners LP), Employee Matters Agreement (Atlas Energy Group, LLC)
SpinCo Unit Options. Each SpinCo Unit Option that is outstanding immediately following the Effective Time shall, as of immediately following the Effective Time, become fully vested (to the extent not already vested) and be cancelled and converted into the right to receive an amount in cash, without interest, equal to the Spread Value of such SpinCo Unit Option. Any SpinCo Unit Option that has a Spread Value equal to zero shall be cancelled for no consideration.
Appears in 6 contracts
Samples: Employee Matters Agreement (Atlas Energy, L.P.), Employee Matters Agreement (Targa Resources Partners LP), Employee Matters Agreement (Atlas Energy Group, LLC)
