Common use of Award Confers No Rights as Stockholder Clause in Contracts

Award Confers No Rights as Stockholder. The Participant shall not be -------------------------------------- entitled to any privileges of ownership with respect to shares of Class A Common Stock (or stock or other securities into which the Class A Common Stock shall have been changed or exchanged in a Transaction) subject to the Award unless and until certificates for such shares (or such stock or other securities) are delivered to the Participant upon the vesting of the Award and the Participant becomes a holder of record with respect to such delivered shares (or such stock or other securities); and the Participant shall not be considered a stockholder of the Company (or of the issuer of such stock or other securities) with respect to any such shares (or such stock or other securities) not so delivered. Any rights the Participant may at any time have against the Company (or such issuer of such other stock or securities) with respect to the Award shall be solely those of an unsecured creditor of the Company (or such issuer).

Appears in 2 contracts

Samples: Award Agreement (Wyndham International Inc), Restricted Unit Award Agreement (Wyndham International Inc)

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Award Confers No Rights as Stockholder. The Participant shall not be -------------------------------------- entitled to any privileges of ownership with respect to shares of Class A Common Stock (or stock or other securities into which the Class A Common Stock shall have been changed or exchanged in a Transaction) subject to the Award unless and until certificates for such shares (or such stock or other securities) are delivered to the Participant upon the vesting of the Award and the Participant becomes a holder of record with respect to such delivered shares (or such stock or other securities); and the Participant shall not be considered a stockholder of the Company (or of the issuer of such stock or other securities) with respect to any such shares (or such stock or other securities) not so delivered. Any rights the Participant may at any time have against the Company (or such issuer of such other stock or securities) with respect to the Award shall be solely those of an unsecured creditor of the Company (or such issuer).

Appears in 1 contract

Samples: Executive Employment Agreement (Wyndham International Inc)

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Award Confers No Rights as Stockholder. The Participant shall not -------------------------------------- be -------------------------------------- entitled to any privileges of ownership with respect to shares of Class A Common Stock (or stock or other securities into which the Class A Common Stock shall have been changed or exchanged in a Transaction) subject to the Award unless and until certificates for such shares (or such stock or other securities) are delivered to the Participant upon the vesting of the Award and the Participant becomes a holder of record with respect to such delivered shares (or such stock or other securities); and the Participant shall not be considered a stockholder of the Company (or of the issuer of such stock or other securities) with respect to any such shares (or such stock or other securities) not so delivered. Any rights the Participant may at any time have against the Company (or such issuer of such other stock or securities) with respect to the Award shall be solely those of an unsecured creditor of the Company (or such issuer).

Appears in 1 contract

Samples: Award Agreement (Wyndham International Inc)

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