Unitholder Rights. You, or your estate or heirs, have no rights as a unitholder of the Company under the LLC Agreement until (i) a certificate for your option’s Units has been issued, and (ii) you have executed the LLC Agreement and the Securityholders’ Agreement. No adjustments are made for distributions or other rights if the applicable record date occurs before your Unit certificate is issued, except as described in the Plan.
Unitholder Rights. You shall have no rights as a unitholder of the Partnership based on your Performance Units.
Unitholder Rights. You shall have no rights as a unitholder of the Partnership based on your Phantom Units.
Unitholder Rights. (a) Upon the Closing, Recipient shall have (i) all of the rights and status as a holder of unvested Restricted Class B Units with respect to the unvested Restricted Class B Units and (ii) all of the rights and status as a holder of Vested Class B Units with respect to Vested Class B Units, in each case as such rights and status are provided in this Agreement and the LLC Agreement.
(b) The granting of the Restricted Units does not confer upon Recipient any right to continue in the employ of the Company or any subsidiary.
Unitholder Rights. The grant of the Performance Units under your Award shall be implemented by a credit to a bookkeeping account maintained by the Company evidencing an unfunded and unsecured right.
Unitholder Rights. (a) Upon the execution by Recipient of this Award and the LLC Agreement and upon the satisfaction of the other conditions described in Section 2 above, Recipient shall have all of the rights, status and obligations as a holder of the Restricted Units, including the right to receive distributions thereon in accordance with the terms of the LLC Agreement and this Award.
(b) Nothing in this Award shall be construed to impose any obligation upon the Company or any of its subsidiaries to employ or retain in its employ the Recipient or interfere in any way with any right of the Company or any of its subsidiaries or affiliates to terminate such employment at any time for any reason whatsoever (whether for cause or without cause) without liability to the Company or any of its subsidiaries or affiliates under this Award.
Unitholder Rights. Subject to the provisions of the Plan and this Agreement, the holder thereof shall have all the rights of a unitholder of the Company with respect to the Units subject to this Award, including the right to vote such units and receive dividends thereon, from the Date of Grant.
Unitholder Rights. You shall have the right to vote your Restricted Units and receive all distributions paid with respect to the Restricted Units, regardless of vesting, at the time such distributions are made.
Unitholder Rights. In the event Lender exercises the Unit Option under Section 4 of this Agreement and becomes a Unitholder of Borrower, Borrower shall make any and all dividends, distributions or other payments to its partners based only upon proportionate Unit ownership, except for reasonable salaries paid to partners who are employees of Borrower or Guarantor for services actually rendered to Borrower or Guarantor (in its capacity as general partner of Borrower.
Unitholder Rights. The Director will have the right to receive any distributions with respect to the Restricted Units (which shall be payable to the Director at the same time and in the same form as to any other common unitholder of record of the Partnership) and will have the right to vote the Restricted Units, both vested and unvested.
