Common use of Spousal Provisions Clause in Contracts

Spousal Provisions. (i) If the Participant is married on the Effective Date, then the Participant shall cause his spouse to execute a spousal consent in the form set forth on Exhibit A (the “Spousal Consent”) to evidence such spouse’s agreement and consent to be bound by the terms and conditions of this Agreement, the Plan and the Company Agreement as to such spouse’s interest, whether as community property or otherwise, if any, in the Restricted Units held by the Participant. Notwithstanding the execution and delivery thereof, such Spousal Consent shall not be deemed to confer or convey to such spouse any rights in the Participant’s Restricted Units that do not otherwise exist by operation of law or by agreement of the parties. If the Participant should marry or remarry subsequent to the Effective Date, the Participant shall, within 30 days thereafter, obtain his new spouse’s acknowledgement of and consent to the existence and binding effect of all restrictions contained in this Agreement, the Plan and the Company Agreement by causing such spouse to execute and deliver a Spousal Consent. If any spouse of the Participant fails to execute the Spousal Consent as required hereunder, until such time as the Spousal Consent is duly executed by such spouse, the Participant’s economic rights associated with the Restricted Units will be suspended and not subject to recovery.

Appears in 2 contracts

Samples: Form of Participant Agreement (Atlas Energy Solutions Inc.), Form of Participant Agreement (Atlas Energy Solutions Inc.)

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Spousal Provisions. (i) If the Participant Grantee is married on the Effective Date, then the Participant Grantee shall cause his or her spouse to execute a spousal consent in the form set forth on Exhibit A the signature page hereto (the “Spousal Consent”) to evidence such spouse’s agreement and consent to be bound by the terms and conditions of this Agreement, the Plan Agreement and the Company LLC Agreement as to such spouse’s interest, whether as community property or otherwise, if any, in the Restricted Awarded Units held by the ParticipantGrantee. Notwithstanding the execution and delivery thereof, such Spousal Consent shall not be deemed to confer or convey to such spouse any rights in the ParticipantGrantee’s Restricted Awarded Units that do not otherwise exist by operation of law or by agreement of the parties. If the Participant Grantee should marry or remarry subsequent to the Effective Date, the Participant Grantee shall, within 30 days thereafter, obtain his or her new spouse’s acknowledgement of and consent to the existence and binding effect of all restrictions contained in this Agreement, the Plan Agreement and the Company LLC Agreement by causing such spouse to execute and deliver a Spousal Consent. If any spouse of the Participant Grantee fails to execute the Spousal Consent as required hereunder, until such time as the Spousal Consent is duly executed by such spouse, the ParticipantGrantee’s economic rights associated with the Restricted Awarded Units will be suspended and not subject to recovery.

Appears in 1 contract

Samples: Restricted Unit Award Agreement (ZAIS Group Holdings, Inc.)

Spousal Provisions. (i) If the Participant any partner in Grantee is married on the Effective Amendment Date, then the Participant Grantee shall cause his spouse each such partner to execute a spousal consent in the form set forth on as Exhibit A hereto (the “Spousal Consent”) to evidence such spouse’s agreement and consent to be bound by the terms and conditions of this Agreement, the Plan Agreement and the Company LLC Agreement as to such spouse’s direct or indirect interest, whether as community property or otherwise, if any, in the Restricted Awarded Units held by the ParticipantGrantee. Notwithstanding the execution and delivery thereof, such Spousal Consent shall not be deemed to confer or convey to such spouse any rights in the ParticipantGrantee’s Restricted Awarded Units that do not otherwise exist by operation of law or by agreement of the parties. If the Participant any such partner in Grantee should marry or remarry subsequent to the Effective Amendment Date, the Participant Grantee shall, within 30 days thereafter, obtain his such new spouse’s acknowledgement of and consent to Exhibit 10.1 the existence and binding effect of all restrictions contained in this Agreement, the Plan Agreement and the Company LLC Agreement by causing such spouse to execute and deliver a Spousal Consent. If any spouse of any partner of the Participant Grantee fails to execute the Spousal Consent as required hereunder, until such time as the Spousal Consent is duly executed by such spouse, the ParticipantGrantee’s economic rights associated with the Restricted Awarded Units will be suspended and not subject to recovery.

Appears in 1 contract

Samples: Class C Membership Interest Award Agreement (American Midstream Partners, LP)

Spousal Provisions. (i) If the Participant Grantee is married on the Effective Date, then the Participant Grantee shall cause his or her spouse to execute a spousal consent in the form set forth on Exhibit A the signature page hereto (the “Spousal Consent”) to evidence such spouse’s agreement and consent to abide by and be bound by the terms and conditions of each of this Agreement, the Plan Addendum Agreement, and the Company LLC Agreement as to such spouse’s interest, whether as community property or otherwise, if any, in the Restricted Awarded Units held by the ParticipantGrantee. Notwithstanding the execution and delivery thereof, such Spousal Consent shall not be deemed to confer or convey to such spouse any rights in the ParticipantGrantee’s Restricted Awarded Units that do not otherwise exist by operation of law or by agreement of the parties. If the Participant Grantee should marry or remarry subsequent to the Effective Date, the Participant Grantee shall, within 30 thirty (30) days thereafter, obtain his or her new spouse’s acknowledgement of and consent to the existence and binding effect of all restrictions contained in this Agreement, the Plan Addendum Agreement, and the Company LLC Agreement by causing such spouse to execute and deliver a Spousal Consent. If any spouse of the Participant Grantee fails to execute the Spousal Consent as required hereunder, until such time as the Spousal Consent is duly executed by such spouse, the ParticipantGrantee’s economic rights associated with the Restricted Awarded Units will be suspended and not subject to recovery.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Oasis Midstream Partners LP)

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Spousal Provisions. (i) If the Participant Grantee is married on the Effective Datedate of the Class B Conversion, then the Participant Grantee shall cause his or her spouse to execute a spousal consent in the form set forth on Exhibit A the signature page hereto (the “Spousal Consent”) to evidence such spouse’s agreement and consent to abide by and be bound by the terms and conditions of each of this Agreement, the Plan Supplement and the Company Original Award Agreement as to such spouse’s interest, whether as community property or otherwise, if any, in the Restricted OMP Conversion Units held by the ParticipantGrantee. Notwithstanding the execution and delivery thereof, such Spousal Consent shall not be deemed to confer or convey to such spouse any rights in the ParticipantGrantee’s Restricted OMP Conversion Units that do not otherwise exist by operation of law or by agreement of the parties. If the Participant Grantee should marry or remarry subsequent to the Effective Datedate of the Class B Conversion, the Participant Grantee shall, within 30 thirty (30) days thereafter, obtain his or her new spouse’s acknowledgement of and consent to the existence and binding effect of all restrictions contained in this Agreement, Supplement or the Plan and the Company Original Award Agreement by causing such spouse to execute and deliver a Spousal Consent. If any spouse of the Participant Grantee fails to execute the Spousal Consent as required hereunder, until such time as the Spousal Consent is duly executed by such spouse, the ParticipantGrantee’s economic rights associated with the Restricted OMP Conversion Units will be suspended and not subject automatically inure to recoverythe benefit of the Company instead of to the Grantee or his or her spouse.

Appears in 1 contract

Samples: Incentive Unit Award Agreement (Oasis Midstream Partners LP)

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