Nature of Units. The Units granted pursuant to this Award are bookkeeping entries only and do not provide the Participant with any dividend, voting or other rights of a shareholder of the Company. The Units shall remain forfeitable at all times unless and to the extent the vesting conditions set forth in this Agreement are satisfied.
Nature of Units. The Units represent book-keeping entries only, and constitute the Company’s unfunded and unsecured promise to issue shares of Common Stock to you on a future date. As a holder of Units, you have no rights other than the rights of a general creditor of the Company.
Nature of Units. Except as otherwise specifically provided in this Agreement, each Unit represents an interest of equal rank with any other Unit in respect of any matter, including the right to receive the Distributable income of the Partnership. No Unit shall have any preference nor any priority of privilege or of right whatsoever on any other Unit.
Nature of Units. Units shall not be evidenced by certificates and, except as otherwise provided in this Agreement, each issued and outstanding Unit is identical to each other Unit with respect to all matters including, without limitation, the following:
(a) the right to receive distributions from the Partnership in accordance with the Partnership Interest represented by each Unit; and
(b) the right to the allocation of Net Profit or Net Loss in accordance with the Partnership Interest represented by each Unit determined in accordance with generally accepted accounting principles.
Nature of Units. (a) The beneficial interest in the Trust is divided into Units.
(b) Subject to the rights, obligations or restrictions attaching to any particular Unit or Class, a Unit confers an interest in the Assets as a whole, subject to the liabilities of the Trust.
(c) A Unit does not confer an interest in a particular Asset.
(d) At any time, all the Units in a Class are of equal value.
(e) All Units are Ordinary Units unless otherwise specified in their terms of issue.
Nature of Units. The Units shall for all purposes be personal property. Except as may otherwise be set forth herein, no Member has any interest in specific Company property, and each Member hereby waives any and all rights such Person may have to initiate or maintain any suit or action for partition of the Company’s assets.
Nature of Units. Except as otherwise herein expressly provided, each issued and outstanding Unit shall be equal to each other Unit with respect to all rights, benefits, obligations and limitations provided for in this Agreement and all other matters, including the right to receive Distributions from the Partnership during the continuation of the Partnership and upon its dissolution, and no Unit shall have any preference, priority or right in any circumstances over any other Unit. Subject to the voting restrictions contained in Section 15.7 hereof, each Limited Partner will be entitled to one vote for each Unit held by him or her in respect of all matters to be decided by the Limited Partners.
Nature of Units. The Units granted pursuant to this Award are bookkeeping entries only and do not provide Employee with any dividend, voting or other rights of a stockholder of the Company; provided, however, Employee shall be entitled to Dividend Equivalents as described in Paragraph 3 of this Award Agreement. The Units shall remain forfeitable at all times unless and to the extent the vesting conditions set forth in [Paragraph 4] of this Award Agreement are satisfied. Neither this Award nor the Units may be sold, transferred, assigned, encumbered or otherwise disposed of, except by will or the laws of descent and distribution in the event of Employee’s death. Any attempt to otherwise transfer this Award or the Units shall be void and without effect.
Nature of Units. The Units constitute movable personal property and not real property or fixtures under the laws of the States where the Units are located.
Nature of Units. The Units granted pursuant to this Agreement are bookkeeping entries only and do not provide the Participant with any dividend, voting or other rights of a stockholder of the Company. The Units shall remain forfeitable at all times unless and to the extent the vesting conditions set forth in Sections 3 or 4 of this Agreement are satisfied. Neither this Agreement nor the Units may be sold, transferred, assigned, encumbered or otherwise disposed of, except by will or the laws of descent and distribution in the event of the Participant’s death. Any attempt to otherwise transfer the Units or this Agreement shall be void and without effect. Any determination of a number of Units to vest under this Agreement will be rounded up to the nearest whole Unit.
