Common use of Phantom Unit Account Clause in Contracts

Phantom Unit Account. The General Partner shall establish and maintain a bookkeeping account on its records for the Service Provider (a “Phantom Unit Account”) and shall record in such Phantom Unit Account: (a) the number of Phantom Units granted to the Service Provider and (b) the amount deliverable to the Service Provider at settlement on account of Phantom Units that have vested. The Service Provider shall not have any interest in any fund or specific assets of the Partnership by reason of this Award or the Phantom Unit Account established for the Service Provider.

Appears in 10 contracts

Samples: Long Term Incentive Plan (GPM Petroleum LP), Long Term Incentive Plan (GPM Petroleum LP), Phantom Unit Agreement (Western Refining Logistics, LP)

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Phantom Unit Account. The General Partner shall establish and maintain a bookkeeping account on its records for the Service Provider (a “Phantom Unit Account”) and shall record in such Phantom Unit Account: (a) the number Target Amount of Phantom Units granted to the Service Provider and (b) the amount deliverable to the Service Provider at settlement on account of Phantom Units that have vested. The Service Provider shall not have any interest in any fund or specific assets of the Partnership by reason of this Award or the Phantom Unit Account established for the Service Provider.

Appears in 3 contracts

Samples: Phantom Unit Agreement (GPM Petroleum LP), Phantom Unit Agreement (Northern Tier Energy LP), Phantom Unit Agreement (Western Refining Logistics, LP)

Phantom Unit Account. The General Partner Partnership shall establish and maintain a bookkeeping account on its records for the Service Provider you (a “Phantom Unit Account”) and shall record in such Phantom Unit Account: (a) the number of Phantom Units granted to the Service Provider and you, (b) the amount deliverable to you at settlement, and (c) the Service Provider at settlement on account amount of Phantom Units that have vestedany distribution equivalent rights credited to you in accordance with Section 5 hereof. The Service Provider You shall not have any interest in any fund or specific assets of the Partnership by reason of this Award or the Phantom Unit Account established for the Service Provideryou.

Appears in 3 contracts

Samples: Phantom Unit Award Agreement (Natural Resource Partners Lp), Phantom Unit Award Agreement (Natural Resource Partners Lp), Phantom Unit Award Agreement (Natural Resource Partners Lp)

Phantom Unit Account. The General Partner shall establish and maintain a bookkeeping account on its records for the Service Provider (a “Phantom Unit Account”) and shall record in such Phantom Unit Account: (a) the number of Phantom Units granted to the Service Provider and the number Additional Phantom Units (as defined below) granted pursuant to Section 4 and (b) the amount number of Common Units deliverable to the Service Provider at settlement on account of Phantom Units that have vestedvested (including with respect to Additional Phantom Units granted pursuant to Section 4). The Service Provider shall not have any interest in any fund or specific assets of the Partnership by reason of this Award or the Phantom Unit Account established for the Service Provider.

Appears in 2 contracts

Samples: Phantom Unit Agreement (Crestwood Equity Partners LP), Phantom Unit Agreement (Crestwood Midstream Partners LP)

Phantom Unit Account. The General Partner shall establish and maintain a bookkeeping account on its records for the Service Provider (a “Phantom Unit Account”) and shall record in such Phantom Unit Account: (a) the number Target Amount of Phantom Units granted to the Service Provider and (b) the amount number of Units deliverable to the Service Provider at settlement on account of Phantom Units that have vested. The Service Provider shall not have any interest in any fund or specific assets of the Partnership by reason of this Award or the Phantom Unit Account established for the Service Provider.

Appears in 2 contracts

Samples: Phantom Unit Agreement (Sprague Resources LP), Phantom Unit Agreement (Sprague Resources LP)

Phantom Unit Account. The General Partner shall establish and maintain a bookkeeping account on its records for the Service Provider Participant (a “Phantom Unit Account”) and shall record in such Phantom Unit Account: (a) the number Target Amount of Phantom Units granted to the Service Provider Participant and (b) the amount deliverable to the Service Provider Participant at settlement on account of Phantom Units that have vested. The Service Provider vested in accordance with Section 4 and the methodology set forth in Annex A. Participant shall not have any interest in any fund or specific assets of the Partnership by reason of this Award or the Phantom Unit Account established for the Service ProviderParticipant.

Appears in 1 contract

Samples: Phantom Unit Award Agreement (Hi-Crush Partners LP)

Phantom Unit Account. The General Partner shall establish and maintain a bookkeeping account on its records for the Service Provider Participant (a “Phantom Unit Account”) and shall record in such Phantom Unit Account: (a) the number of Phantom Units granted to the Service Provider Participant and (b) the amount deliverable to the Service Provider Participant at settlement on account of Phantom Units that have vestedvested in accordance with Section 4. The Service Provider Participant shall not have any interest in any fund or specific assets of the Partnership by reason of this Award or the Phantom Unit Account established for the Service ProviderParticipant.

Appears in 1 contract

Samples: Phantom Unit Award Agreement (Hi-Crush Partners LP)

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Phantom Unit Account. The General Partner shall establish and maintain a bookkeeping account on its records for the Service Provider (a “Phantom Unit Account”) and shall record in such Phantom Unit Account: (a) the number of Phantom Units granted to the Service Provider and (b) the amount deliverable to the Service Provider at settlement on account of Phantom Units that have vested. The Service Provider shall not have any interest in any fund or specific assets of the Partnership by reason of this Award or the Phantom Unit Account established for the Service Provider.. TO PHANTOM UNIT AGREEMENT

Appears in 1 contract

Samples: Phantom Unit Agreement (Sprague Resources LP)

Phantom Unit Account. The General Partner shall establish and maintain a bookkeeping account on its records for the Service Provider (a “Phantom Unit Account”) and shall record in such Phantom Unit Account: (a) the number Target Amount of Phantom Units granted to the Service Provider and (b) the amount number of Units deliverable to the Service Provider at settlement on account of Phantom Units that have vested. The Service Provider shall not have any interest in any fund or specific assets of the Partnership by reason of this Award or the Phantom Unit Account established for the Service Provider. 3.

Appears in 1 contract

Samples: Phantom Unit Agreement

Phantom Unit Account. The General Partner shall establish and maintain a bookkeeping account on its records for the Service Provider Recipient (a “Phantom Unit Account”) and shall record in such Phantom Unit Account: (a) the number of Phantom Units granted to the Service Provider Recipient and (b) the amount deliverable to the Service Provider Recipient at settlement on account of Phantom Units that have vested. The Service Provider Recipient shall not have any interest in any fund or specific assets of the Partnership by reason of this Award or the Phantom Unit Account established for the Service ProviderRecipient.

Appears in 1 contract

Samples: Phantom Unit Award Agreement (Northern Tier Energy LP)

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