Common use of Phantom Unit Account Clause in Contracts

Phantom Unit Account. Phantom Units represent hypothetical common units of the Company (“Units”), and not actual Units. The Company shall establish and maintain a Phantom Unit account, as a bookkeeping account on its records (the “Phantom Unit Account”), for the Participant and shall record in such account the number of Phantom Units granted to the Participant. No Units shall be issued to the Participant at the time the grant is made, and the Participant shall not be, nor have any of the rights or privileges of, a unitholder of the Company with respect to any Phantom Units recorded in the account. The Participant shall not have any interest in any fund or specific assets of the Company by reason of this grant or the Phantom Unit Account established for the Participant.

Phantom Unit Account. Phantom Units represent hypothetical common units of the Company Partnership (“Units”), and not actual Units. The Company Partnership shall establish and maintain a Phantom Unit account, as a bookkeeping account on its records (the “Phantom Unit Account”)records, for the Participant and shall record in such account the number of Phantom Units granted to the Participant. No Units shall be issued to the Participant at the time the grant is made, and the Participant shall not be, nor have any of the rights or privileges of, a unitholder of the Company Partnership with respect to any Phantom Units recorded in the account. The Participant shall not have any interest in any fund or specific assets of the Company Partnership by reason of this grant or the Phantom Unit Account account established for the Participant.

Phantom Unit Account. Phantom Units represent hypothetical common units of the Company Partnership (“Units”), and not actual Units. The Company Partnership shall establish and maintain a Phantom Unit account, as a bookkeeping account on its records (the “Phantom Unit Account”)records, for the Participant Grantee and shall record in such account the number of Phantom Units granted to the ParticipantGrantee. No Units shall be issued to the Participant Grantee at the time the grant is made, and the Participant Grantee shall not be, nor have any of the rights or privileges of, a unitholder of the Company Partnership with respect to any Phantom Units recorded in the account. The Participant Grantee shall not have any interest in any fund or specific assets of the Company Partnership by reason of this grant or the Phantom Unit Account account established for the ParticipantGrantee.

Phantom Unit Account. Phantom Units represent hypothetical common units of the Company Partnership (“Units”), and not actual Units. The Company Partnership shall establish and maintain a Phantom Unit account, as a bookkeeping account on its records (the “Phantom Unit Account”)records, for the Participant Grantee and shall record in such account the number of Phantom Units granted to the ParticipantGrantee. No Units shall be issued to the Participant Grantee at the time the grant is made, and the Participant Grantee shall not be, nor have any of the rights or privileges of, a unitholder of the Company Partnership with respect to any Phantom Units recorded in the account. The Participant Grantee shall not have any interest in any fund or specific assets of the Partnership or the Company by reason of this grant or the Phantom Unit Account account established for the ParticipantGrantee.