Phantom Unit Account. Phantom Units represent hypothetical common units of the Partnership (“Units”), and not actual Units. The Partnership shall establish and maintain a Phantom Unit account, as a bookkeeping account on its 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 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 Partnership by reason of this grant or the Phantom Unit account established for the Participant.
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Samples: Phantom Unit Grant Agreement (Atlas Energy, L.P.), Phantom Unit Grant Agreement (Atlas Energy, L.P.)
Phantom Unit Account. Phantom Units represent hypothetical common units of the Partnership (“Units”), and not actual Units. The Partnership shall establish and maintain a Phantom Unit account, as a bookkeeping account on its 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 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 by reason of this grant or the Phantom Unit account established for the ParticipantGrantee.
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Samples: Phantom Unit Grant Agreement (Atlas Resource Partners, L.P.), Phantom Unit Grant Agreement (Atlas Energy, L.P.)
Phantom Unit Account. Phantom Units represent hypothetical common units of the Partnership Company (“Units”), and not actual Units. The Partnership Company shall establish and maintain a Phantom Unit account, as a bookkeeping account on its recordsrecords (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 Partnership 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 Partnership Company by reason of this grant or the Phantom Unit account Account established for the Participant.
Appears in 2 contracts
Samples: Phantom Unit Grant Agreement (Atlas Energy Group, LLC), Phantom Unit Grant Agreement (Atlas Energy Group, LLC)
Phantom Unit Account. Phantom Units represent hypothetical common units of the Partnership (“Units”), Units and not actual Units. The Partnership Company shall establish and maintain a Phantom Unit account, as a bookkeeping account on its records, records for the Participant you (a “Phantom Unit Account”) and shall record in such account Phantom Unit Account (i) the number of Phantom Units granted to you and (ii) the Participantnumber of Units payable to you on account of Phantom Units that have vested. No Units shall be issued to the Participant you at the time the grant is made, and the Participant you shall not be, nor have any of the rights or privileges of, a unitholder or limited partner of the Partnership with respect to any Phantom Units recorded in the accountPhantom Unit Account. The Participant You shall not have any interest in any fund or specific assets of the Partnership by reason of this grant Award or the Phantom Unit account Account established for the Participantyou.
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Samples: Phantom Unit Award Agreement (Pioneer Southwest Energy Partners L.P.)
Phantom Unit Account. Phantom Units represent hypothetical common units of the Partnership (“Units”), and not actual Units. The Partnership shall establish and maintain a Phantom Unit account, as a bookkeeping account on its 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 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 established for the ParticipantGrantee.
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