Restricted Unit Account. RAIT shall establish and maintain a Restricted Unit account, as a bookkeeping account on its records, (the “Restricted Unit Account”) for the Participant and shall record in such Restricted Unit Account the number of Restricted Units granted to the Participant. The Participant shall not have any interest in any fund or specific assets of RAIT by reason of this grant or the Restricted Unit Account established for the Participant.
Appears in 5 contracts
Samples: Unit Award Agreement (Rait Investment Trust), Unit Award Agreement (RAIT Financial Trust), Unit Award Agreement (Rait Investment Trust)
Restricted Unit Account. RAIT shall establish and maintain a Restricted Unit account, as a bookkeeping account on its records, (the “Restricted Unit Account”) for the Participant and shall record in such Restricted Unit Account the number of Restricted Units granted to the Participant. The Participant shall not have any interest in any fund or specific assets of RAIT by reason of this grant or the Restricted Unit Account established for the Participant.
Appears in 3 contracts
Samples: Unit Award Agreement (Rait Investment Trust), Unit Award Agreement (Rait Investment Trust), Unit Award Agreement (Rait Investment Trust)
