Payment in respect of Restricted Units earned. Except as provided by Section 1.6 hereof, all payment for Restricted Units earned shall be made in common units representing limited partnership interests in the Partnership. The number of common units paid shall be equal to the number of Restricted Units earned; provided, however, that any fractional units shall be distributed as an amount of cash equal to the Fair Market Value of such fractional unit on the date of payment. Payment shall be made no later than two and one-half (2-1/2) months following the calendar year in which such Restricted Units become nonforfeitable.
Appears in 1 contract
Samples: Restricted Unit Agreement (Sunoco Logistics Partners Lp)
Payment in respect of Restricted Units earned. Except as provided by Section 1.6 1.5 hereof, all payment for Restricted Units earned shall be made in common units representing limited partnership interests in the Partnership. The number of common units paid shall be equal to the number of Restricted Units earned; provided, however, that any fractional units shall be distributed as an amount of cash equal to the Fair Market Value of such fractional unit on the date of payment. Payment shall be made no later than two and one-half (2-1/2) months following the calendar year in which such Restricted Units become nonforfeitable.
Appears in 1 contract
Samples: Restricted Unit Agreement (Sunoco Logistics Partners Lp)
Payment in respect of Restricted Units earned. Except as provided by Section 1.6 1.5 hereof, all payment for Restricted Units earned shall be made in common units representing limited partnership interests in the Partnership. The number of common units paid shall be equal to the number of Restricted Units earned; provided, however, that any fractional units shall be distributed as an amount of cash equal to the Fair Market Value of such fractional unit on the date of payment. Payment shall be made no later than within two and one-half (2-2- 1/2) months following the calendar year in which such Restricted Units become nonforfeitable.
Appears in 1 contract
Samples: Restricted Unit Agreement (Sunoco Logistics Partners Lp)
Payment in respect of Restricted Units earned. Except as provided by Section 1.6 1.5 hereof, all payment for Restricted Units earned shall be made in common units representing limited partnership interests in the PartnershipUnits. The number of common units Units paid shall be equal to the number of Restricted Units earned; provided, however, that any fractional units Units shall be distributed as an amount of cash equal to the Fair Market Value of such fractional unit Unit on the date of payment. Payment shall be made no later than within two and one-half (2-2- 1/2) months following the calendar year in which such Restricted Units become nonforfeitable.
Appears in 1 contract
Samples: Restricted Unit Agreement (Sunoco Logistics Partners L.P.)
Payment in respect of Restricted Units earned. Except as provided by Section 1.6 hereof, all payment for Restricted Units earned shall be made in common units representing limited partnership interests in the PartnershipUnits. The number of common units Units paid shall be equal to the number of Restricted Units earned; provided, however, that any fractional units Units shall be rounded up and distributed as an amount of cash equal to the Fair Market Value of such fractional unit on Participant to the date of paymentnearest whole Unit. Payment shall be made no later than within two and one-half (2-2- 1/2) months following the calendar year in which such Restricted Units become nonforfeitable.
Appears in 1 contract
Samples: Restricted Unit Agreement (Sunoco Logistics Partners L.P.)
Payment in respect of Restricted Units earned. Except as provided by Section 1.6 hereof, all payment for Restricted Units earned shall be made in common units representing limited partnership interests in the Partnership. The number of common units paid shall be equal to the number of Restricted Units earned; provided, however, that any fractional units shall be distributed as an amount of cash equal to the Fair Market Value of such fractional unit on the date of payment. Payment shall be made no later than within two and one-half (2-2- 1/2) months following the calendar year in which such Restricted Units become nonforfeitable.
Appears in 1 contract
Samples: Restricted Unit Agreement (Sunoco Logistics Partners Lp)