Common use of No Rights as a Member Clause in Contracts

No Rights as a Member. Optionee shall have no rights as a member in connection with the Units covered by the Option until the date (the "Exercise Date") an entry evidencing such ownership is made in the appropriate records of the Company. Except as may be provided under Section 10 of the Plan, the Company will make no adjustment for dividends (ordinary or extraordinary, whether in cash, securities, or other property) or distributions or other rights for which the record date is prior to the Exercise Date.