DERs. Unpaid, vested DERs shall be paid to the Participant (or in the event of the Participant’s death, to the Participant’s estate) as soon as reasonably practical, but not later than forty-five (45) days, following the date on which a Phantom Unit and related DER vests, in the form of a cash payment equal to the amount then credited to the DER Account maintained with respect to such Phantom Unit or, if applicable, at the time elected pursuant to the Election Form.
Appears in 3 contracts
Samples: Ltip Grant Award Agreement (Summit Midstream Partners, LP), Ltip Grant Award Agreement (Summit Midstream Partners, LP), 2020 Ltip Grant Award Agreement (Summit Midstream Partners, LP)
DERs. Unpaid, vested DERs shall be paid to the Participant (or in the event of the Participant’s death, to the Participant’s estate) as soon as reasonably practical, but not later than forty-five (45) days, following the date on which a Phantom Unit and related DER vests, in the form of a cash payment equal to the amount then credited to the DER Account maintained with respect to such Phantom Unit or, if applicable, at the time elected pursuant to the Election Form.
Appears in 3 contracts
Samples: Phantom Unit Agreement, Phantom Unit Agreement (Summit Midstream Partners, LP), Phantom Unit Agreement (Summit Midstream Partners, LP)
