Common use of Possible Forfeiture of Units Prior to Vesting Clause in Contracts

Possible Forfeiture of Units Prior to Vesting. Unless otherwise provided in the Plan or by the Committee, if Holder ceases for any reason to be a Service Provider of the Company Entities prior to the Vesting Date for the Restricted Units, (i) all unvested Restricted Units held by Holder shall thereupon immediately be forfeited and returned to the General Partner or one of its Affiliates and (ii) all UDRs with respect to such Restricted Units, and any other rights or benefits Holder may be entitled to by virtue of Holder’s possession of the Restricted Units, shall be forfeited. Upon such forfeiture, Holder shall have no further rights under this Agreement.

Appears in 2 contracts

Samples: Restricted Unit Award Agreement (Inergy Midstream, L.P.), Restricted Unit Award Agreement (Inergy Midstream, LLC)

AutoNDA by SimpleDocs

Possible Forfeiture of Units Prior to Vesting. Unless otherwise provided in the Plan or by the CommitteePlan, if Holder ceases for any reason to be a Service Provider of the Company Entities for any reason other than death or Disability prior to one or more of the Vesting Date Dates for some or all of the Restricted Units, (i) all unvested Restricted Units held by Holder shall thereupon immediately be forfeited and returned to the General Partner or one of its Affiliates Crestwood Equity and (ii) all UDRs rights to receive DERs with respect to such Restricted Units, and any other rights or benefits Holder may be entitled to by virtue of Holder’s possession of the Restricted Units, Units shall be forfeited. Upon such forfeiture, Holder shall have no further rights under this Agreement.

Appears in 1 contract

Samples: Restricted Unit Award Agreement (Crestwood Equity Partners LP)

Possible Forfeiture of Units Prior to Vesting. Unless otherwise provided in the Plan or by the CommitteePlan, if Holder ceases for any reason to be a Service Provider Participant of the Company Entities prior to one or more of the Vesting Date Dates for some or all of the Restricted Units, (i) all unvested Restricted Units held by Holder shall thereupon immediately be forfeited and returned to the General Partner or one of its Affiliates Inergy Holdings and (ii) all rights to receive UDRs with respect to such Restricted Units, and any other rights or benefits Holder may be entitled to by virtue of Holder’s possession of the Restricted Units, Units shall be forfeited. Upon such forfeiture, Holder shall have no further rights under this Agreement.

Appears in 1 contract

Samples: Restricted Unit Award Agreement (Inergy Holdings, L.P.)

AutoNDA by SimpleDocs

Possible Forfeiture of Units Prior to Vesting. Unless otherwise provided in the Plan or by the CommitteePlan, if Holder ceases for any reason to be a Service Provider of the Company Entities prior to the Vesting Date for the Restricted Units, (i) all unvested Restricted Units held by Holder shall thereupon immediately be forfeited and returned to the General Partner or one of its Affiliates Inergy and (ii) all UDRs rights to receive DERs with respect to such Restricted Units, and any other rights or benefits Holder may be entitled to by virtue of Holder’s possession of the Restricted Units, Units shall be forfeited. Upon such forfeiture, Holder shall have no further rights under this Agreement.

Appears in 1 contract

Samples: Restricted Unit Award Agreement (Inergy L P)

Time is Money Join Law Insider Premium to draft better contracts faster.