Rights as a Unitholder. Except for the DER described in Section 4 above, the Grantee (or Beneficiary) shall have no rights as a unitholder with respect to the Units potentially deliverable pursuant to the Phantom Units unless and until such Units have been issued and registered in the Grantee’s name or issued for the benefit of the Grantee hereunder.
Appears in 5 contracts
Samples: Phantom Unit Award Agreement (K-Sea Transportation Partners Lp), Employee Phantom Unit Award Agreement (K-Sea Transportation Partners Lp), Employee Phantom Unit Award Agreement (K-Sea Transportation Partners Lp)
