Participant Participant means any present or former Eligible Individual who has become a Participant in the Plan in accordance with the provisions of Article III and who continues to have an Account balance under the Plan or whose beneficiary has such an Account balance.
The defaulting party will then be entitled to thirty (30) days from receipt of such notice within which to cure such default; provided, that in the case of a monetary default by Participant, Participant will only be allowed to cure such default within two (2) business days after receipt of such notice, by delivering that amount owed to HCC in good funds into HCC's bank account.
Should the Company be unable to procure such cash amounts from Participant, Participant agrees and acknowledges that Participant is giving the Company permission to withhold from Participants paycheck(s) an amount equal to the remaining Withholding Taxes due and payable as a result of the Company not retaining fractional Shares.
An Employee in Covered Employment shall become a Participant ("Participant") on the first Entry Date following the date the Employee satisfies the eligibility requirements.
Subject to the provisions of this Agreement, upon the issuance of a certificate or certificates representing the Restricted Shares to Participant, Participant shall become the record and beneficial owner thereof for all purposes and shall have all rights as a stockholder, including without limitation voting rights and the right to receive dividends and distributions, with respect to the Restricted Shares.
Cheniere Energy, Inc., a Delaware corporation ("Company"), hereby awards to the undersigned Participant ("Participant") a cash-based award (the "Award") of phantom units (the "Units"), each of which is a notional unit of common stock, $0.003 par value per share, of the Company ("Common Stock"), subject to and in accordance with the terms and conditions of this Phantom Unit Award Agreement (this "Agreement").