Common use of Forfeiture of Phantom Units Clause in Contracts

Forfeiture of Phantom Units. In the event of a cessation (not including any approved leave of absence) of the Participant’s Service for any reason, all Phantom Units that have not vested prior to or in connection with such cessation of Service shall thereupon automatically be forfeited by the Participant without further action and without payment of consideration therefor.

Forfeiture of Phantom Units. In the event of a cessation (not including any approved leave of absence) termination of the Participant’s Service for any reason, all Phantom Units that have not vested prior to or in connection with such cessation termination of Service shall thereupon automatically be forfeited by the Participant without further action and without payment for no consideration. Payment of consideration thereforPhantom Units: Vested Phantom Units shall be paid to the Participant in the form of Units as set forth in and subject to Section 5 below.

Forfeiture of Phantom Units. In the event of a cessation (not including any approved leave of absence) of the Participant’s Service for any reason, all Phantom Units that have not vested prior to or in connection with such cessation of Service shall thereupon automatically be forfeited by the Participant without further action and without payment of consideration therefor. Payment of Phantom Units: Vested Phantom Units shall be paid to the Participant as set forth in Section 5 below.

Forfeiture of Phantom Units. In the event of a cessation (not including any approved leave of absence) of the Participant’s Service for any reason, all Phantom Units that have not vested prior to or in connection with such cessation of Service shall thereupon automatically be forfeited by the Participant without further action and without payment of consideration therefor. Payment of Phantom Units: Vested Phantom Units shall be paid to the Participant in the form of Units as set forth in Section 5 below.

Forfeiture of Phantom Units. In the event of a cessation (not including any approved leave of absence) of the Participant’s Service service for any reason, all Phantom Units that have not vested prior to or in connection with such cessation of Service shall shall, subject to Section 3(b) below, thereupon automatically be forfeited by the Participant without further action and without payment for no consideration. Payment of consideration thereforPhantom Units: Vested Phantom Units shall be paid to the Participant in the form of Units as set forth in Section 4 below.