Common use of Net Units Clause in Contracts

Net Units. Unless Participant satisfies the tax withholding obligation, if any, as set forth above, by timely remitting such amounts to the Partnership or the Internal Revenue Service (at the Partnership’s election) by cash, check or wire transfer, all Units to be issued pursuant to this Award Agreement shall, if applicable, be net of tax withholding, such that the tax withholding obligation, if any, of Participant in respect of this Award Agreement and such Units is satisfied through the retention by the Partnership of a number of Units equal to Participant’s aggregate tax withholding obligation divided by the per-unit Fair Market Value for the date immediately prior to the date of such issuance of Units.