Distributions and Voting Rights. The Grantee is entitled to Distribution Equivalents with respect to Phantom Units, which shall be paid to the Grantee in cash at the time distributions are made with respect to Units. The Grantee shall have no voting rights with respect to Phantom Units. The Grantee is entitled to receive all cash distributions made with respect to Restricted Units registered in Grantee’s name and is entitled to vote such Restricted Units, unless and until the Restricted Units are forfeited.
Appears in 3 contracts
Samples: Non Employee Director Award Agreement (TransMontaigne Partners L.P.), Employee Award Agreement (TransMontaigne Partners L.P.), Non Employee Director Award Agreement (TransMontaigne Partners L.P.)
Distributions and Voting Rights. The Grantee is entitled to Distribution Equivalents DERs with respect to Phantom Units, which shall be paid to the Grantee in cash at the time distributions are made with respect to Units. The Grantee shall have no voting rights with respect to Phantom Units. The Grantee is entitled to receive all cash distributions made with respect to Restricted Units registered in Grantee’s name and is entitled to vote such Restricted Units, unless and until the Restricted Units are forfeited.
Appears in 2 contracts
Samples: Non Employee Director Award Agreement, Non Employee Director Award Agreement (TransMontaigne Partners L.P.)
