Partnership Phantom Unit definition

Partnership Phantom Unit means a phantom unit relating to a Common Unit issued under a Partnership Long-Term Incentive Plan.
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Partnership Phantom Unit means an award of notional Common Units granted under a Partnership Plan that is payable in Common Units or the value of which is determined by reference to the value of Common Units.
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Partnership Phantom Unit means a hypothetical, nonexistent unit of Partnership Interests (as defined in the Partnership Agreement) equal to the lesser of (a) a Percentage Interest (as defined in the Partnership Agreement) equal to one and one-half percent (1.5%) of the total outstanding Partnership Interests as of the Grant Date or (b) a Percentage Interest that has a value equal to the Applicable Dollar Amount (as defined below) as of the Grant Date, determined on the basis of the Partnership Valuation (defined in Section 6.6.1 of the Partnership Agreement) for the Grant Date for each grant;
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Examples of Partnership Phantom Unit in a sentence

  • Except as otherwise provided in this Section 3.5, each such Parent Phantom Unit assumed and converted pursuant to this Section 3.5 shall continue to have, and shall be subject to, the same material terms and conditions and the same vesting conditions as applied to the corresponding Partnership Phantom Unit immediately prior to the Effective Time, and shall settle in Parent Units upon vesting.

  • Except as otherwise provided in this Section 3.5(c)(iii), each such Parent Restricted Share Award assumed and converted pursuant to this Section 3.5(c)(iii) shall continue to have, and shall be subject to, the same material terms and conditions and the same vesting conditions as applied to the corresponding Partnership Phantom Unit immediately prior to the Effective Time, and shall settle in Parent Shares upon vesting.

  • Not later than immediately following the Effective Time, Parent shall deliver to each holder of a Partnership Phantom Unit assumed by Parent an appropriate notice setting forth such holder’s rights pursuant to the corresponding Parent Phantom Unit.

  • Except as otherwise provided in this Section 3.6, each such Parent RSU shall continue to have and be subject to the same vesting and other terms and conditions as applied to the corresponding Partnership Phantom Unit immediately before the Effective Time.

  • Each such Assumed Restricted Unit Award shall be converted into a restricted unit award to receive a number of Parent Common Units (or the cash equivalent thereof, as applicable) equal to the product obtained by multiplying (x) the number of Partnership Common Units subject to such Partnership Phantom Unit immediately prior to the Effective Time by (y) the Exchange Ratio, rounded up or down to the nearest whole Parent Common Unit.

  • Effective January 1, 1994, the Businesses adopted Statement of Financial Accounting Standards No. 112, "Employers' Accounting for Postretirement Benefits" ("SFAS 112").

  • Pursuant to Section 3(b)(iii) of the Agreement, the Employer shall grant or cause the grant of Phantom Options with respect to a Partnership Phantom Unit and a MLP Phantom Unit (as defined below) to the Executive on the following terms and conditions.

  • Payment in respect of Phantom Units Awards, including DERs will be subject to applicable withholding described in Section 10 of the Partnership Phantom Unit Award.

  • For the avoidance of doubt, each Partnership Phantom Unit that is outstanding as of the Effective Time shall not vest as of the Effective Time, and will continue to be eligible to vest in accordance with the terms of the applicable award agreements governing the underlying Partnership Phantom Units.

  • Any accrued but unpaid DERs recorded in the DER Account shall be paid to the appropriate holder of the corresponding Partnership Phantom Unit Award at Closing.


More Definitions of Partnership Phantom Unit

Partnership Phantom Unit means an unvested Common Unit issued under the Partnership Long-Term Incentive Plan.
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Partnership Phantom Unit means a phantom unit relating to a Common Unit issued under a Partnership Long-Term Incentive Plan. “Partnership SEC Documents” has the meaning set forth in Section 4.5(a).
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Partnership Phantom Unit means an unvested Phantom Unit granted under a Partnership Long-Term Incentive Plan that entitles the grantee to one Common Unit upon vesting.
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Partnership Phantom Unit means an award of notional Partnership Units that is subject to service-based vesting requirements and that is payable in Partnership Units or the value of which is determined by reference to the value of Partnership Units, whether granted under the Partnership Equity Plans or otherwise.
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Partnership Phantom Unit means a phantom unit relating to a Common Unit issued under a Partnership Long-Term Incentive Plan. “ Partnership Recommendation Change Notice ” has the meaning set forth in Section 6.3(d)(ii)(1) .
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Partnership Phantom Unit means a “Phantom Unit” as defined in the Partnership LTIP.
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Related to Partnership Phantom Unit

  • Phantom Unit means a notional Unit granted under the Plan which upon vesting entitles the Participant to receive, at the time of settlement, a Unit or an amount of cash equal to the Fair Market Value of a Unit, as determined by the Committee in its sole discretion.

  • Restricted Unit means a Unit granted under the Plan that is subject to a Restricted Period.

  • Restricted Units means that number of restricted units listed in the Award Letter as “Awards Granted.”

  • General Partner Unit means a fractional part of the General Partner Interest having the rights and obligations specified with respect to the General Partner Interest. A General Partner Unit is not a Unit.

  • Partnership Unit means a fractional, undivided share of the Partnership Interests of all Partners issued hereunder. The allocation of Partnership Units among the Partners shall be as set forth on Exhibit A, as may be amended from time to time.

  • Restricted Stock Unit Agreement means the agreement consistent with the terms of the Plan between the Company and the recipient of a Restricted Stock Unit that contains the terms, conditions and restrictions pertaining to such Restricted Stock Unit.

  • Unit Award means a grant of a Unit that is not subject to a Restricted Period.

  • Performance Share Units means Performance Share Units granted to an Eligible Individual under Section 9.1(b).

  • Share Unit means a unit credited by means of an entry on the books of the Corporation to a Participant pursuant to the Plan, representing the right to receive, subject to and in accordance with the Plan, for each Vested Share Unit one Share, at the time, in the manner, and subject to the terms, set forth in the Plan and the applicable Grant Agreement;

  • Performance Share Award means an Award entitling the recipient to acquire shares of Stock upon the attainment of specified Performance Goals.

  • Covered Units means: (i) during the period of the Employee’s employment with the Corporation, each business unit of the Corporation; and (ii) following the Employment Termination Date, each business unit of the Corporation in or for which the Employee was employed or to which the Employee provided services or about which the Employee obtained or had access to Confidential Information, in each case of this clause (ii) at any time within the twenty-four (24)-month period prior to the Employment Termination Date. The Employee acknowledges and agrees that if the Employee is or was employed at a segment level, the Employee is providing or has provided services to and for, and has obtained and has or had access to Confidential Information about, each business unit of such segment; and if the Employee is or was employed at the corporate/headquarters level, the Employee is providing or has provided services to and for, and has obtained and has or had access to Confidential Information about, each business unit of the Corporation.

  • Performance Share Unit or “PSU” means a unit equivalent in value to a Share, credited by means of a bookkeeping entry in the books of the Corporation in accordance with Article 6;

  • Units means the units of the Company, each comprised of one share of Common Stock and one-half of one Warrant.

  • General Partner Units has the meaning assigned to such term in the Partnership Agreement.

  • Share Award means an Award of Shares granted pursuant to Section 10.

  • Phantom Stock Award means an Award granted under Paragraph X of the Plan.

  • Restricted Share Unit Award means a right to receive Ordinary Shares which is granted pursuant to the terms and conditions of Section 6(b).

  • Stock Unit means a bookkeeping entry representing the equivalent of one Common Share, as awarded under the Plan.

  • Performance Unit Award means an award of Performance Units under this Plan.

  • Phantom Stock Unit means the right to receive the value of one (1) share of the Company’s Common Stock, subject to the provisions of Section 8.4 of the Plan.

  • Stock Unit Agreement means the agreement between the Company and the recipient of a Stock Unit which contains the terms, conditions and restrictions pertaining to such Stock Unit.

  • GP Unit means a Partnership Unit which is designated as a GP Unit of the Partnership.

  • Plan Share Award or "Award" means a right granted to a Participant under this Plan to earn or to receive Plan Shares.

  • Phantom Stock Award Agreement means a written agreement between the Company and a Holder with respect to a Phantom Stock Award.

  • Restricted Share Unit means the right granted to a Participant pursuant to Article 7 to receive a Share at a future date.