Time-Based Phantom Units Sample Clauses

Time-Based Phantom Units. Until such time as the Time-Based Phantom Units vest and are paid or are forfeited, if any cash distributions are paid with respect to the Units, the Partnership shall pay the Participant, in cash, the amount of the distribution that would have been distributed if the Time-Based Phantom Units credited to the Participant’s Phantom Unit Account at the time of the distribution payment were Units. The distribution equivalent payment shall be made within thirty (30) days after the cash distribution is paid with respect to the Units.