Common use of Rights as a Limited Partner Clause in Contracts

Rights as a Limited Partner. Until Units have been validly issued (as fully paid common units representing limited partnership interests in the Partnership) to the Participant or any other person, neither Participant nor such other person shall be entitled to any privileges of Unit ownership, or otherwise have any rights as a limited partner, by reason of the Award.

Appears in 3 contracts

Samples: Restricted Unit Agreement (Sunoco Logistics Partners L.P.), Restricted Unit Agreement (Sunoco Logistics Partners L.P.), Performance Based Restricted Unit Agreement (Sunoco Logistics Partners L.P.)

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Rights as a Limited Partner. Until Units have been validly issued (as fully paid common units Units representing limited partnership interests in the Partnership) in settlement of vested Restricted Units to the Participant or any other person, neither Participant nor such other person shall be entitled to any privileges of Unit ownership, (including, without limitation, any voting rights or any right to distributions paid with respect to the Units underlying the Restricted Units), or otherwise have any rights as a limited partner, by reason of the Award.

Appears in 2 contracts

Samples: Long Term Incentive Plan (Sunoco Logistics Partners L.P.), Long Term Incentive Plan (Sunoco Logistics Partners L.P.)

Rights as a Limited Partner. Until Units have been validly issued (as fully paid common units representing limited partnership interests in the Partnership) in settlement of vested Restricted Units to the Participant or any other person, neither Participant nor such other person shall be entitled to any privileges of Unit common unit ownership, (including, without limitation, any voting rights or any right to distributions paid with respect to the common units underlying the Restricted Units), or otherwise have any rights as a limited partner, by reason of the Award.

Appears in 1 contract

Samples: Restricted Unit/Phantom Unit Agreement (Sunoco LP)

Rights as a Limited Partner. Until Units have been validly issued (as fully paid common units representing limited partnership interests in the Partnership) to Neither the Participant or nor any other person, neither Participant nor such other person shall be entitled to any the privileges of Unit ownershipownership of Units, or otherwise have any rights as a limited partner, by reason of the Awardaward of the Restricted Units covered by this Agreement or any Partnership Units, issuable in respect of such Restricted Units, unless and until such Units have been validly issued to such Participant or such other person as fully paid common units, representing limited partnership interests in the Partnership.

Appears in 1 contract

Samples: Restricted Unit Agreement (Sunoco Logistics Partners L.P.)

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Rights as a Limited Partner. Until Units have been validly issued (as fully paid common units representing limited partnership interests in the Partnership) to Neither the Participant or nor any other person, neither Participant nor such other person shall be entitled to any the privileges of Unit ownershipownership of Units, or otherwise have any rights as a limited partner, by reason of the Awardaward of the Restricted Units covered by this Agreement or any Partnership Units, issuable in respect of such Restricted Units, unless and until such common units have been validly issued to such Participant, or such other person, as fully paid common units, representing limited partnership interests in the Partnership.

Appears in 1 contract

Samples: Restricted Unit Agreement (Sunoco Logistics Partners L.P.)

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