Common use of Vested Awards Clause in Contracts

Vested Awards. As soon as practicable after the end of the Measurement Period, a determination shall be made by the Administrator of the number of TR Performance Units and Performance Distribution Equivalents that have vested. The date as of which the Administrator so determines the number of TR Performance Units and Performance Distribution Equivalents vesting shall be the “Determination Date.” The Determination Date and any other date upon which TR Performance Units and Performance Distribution Equivalents vest pursuant to this Agreement shall be the “Vesting Date.” Performance Distribution Equivalents shall cease on the Vesting Date to accumulate distributions with respect to Common Units. Any TR Performance Units and Performance Distribution Equivalents (and accumulated distributions associated with such Performance Distribution Equivalents) that do not vest shall be immediately forfeited for no consideration.

Appears in 3 contracts

Samples: Tr Performance Unit Award Agreement, Tr Performance Unit Award (OCI Resources LP), Tr Performance Unit Award (OCI Resources LP)

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Vested Awards. As soon as practicable after the end of the Measurement Period, a determination shall be made by the Administrator of the number of TR Performance Units and Performance Distribution Equivalents that have vested. The date as of which the Administrator so determines the number of TR Performance Units and Performance Distribution Equivalents vesting shall be the “Determination Date.” The Determination Date and any other date upon which TR Performance Units and Performance Distribution Equivalents vest pursuant to this Agreement shall be the “Vesting Date.” Performance Distribution Equivalents shall cease on the Vesting Date to accumulate distributions with respect to Common Units. Any TR Performance Units and Performance Distribution Equivalents (and accumulated distributions associated with such Performance Distribution Equivalents) that do not vest shall be immediately forfeited for no consideration. Change in Control 5.

Appears in 1 contract

Samples: Performance Unit Award Agreement (Ciner Resources LP)

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