Common use of Vesting of Phantom Units Clause in Contracts

Vesting of Phantom Units. The Phantom Units are restricted in that they may be forfeited by the Service Provider and in that they may not, except as otherwise provided in the Plan, be transferred or otherwise disposed of by the Service Provider. Subject to the terms and conditions of this Agreement, the forfeiture restrictions on the Phantom Units shall lapse, and the Phantom Units shall vest as follows: Vesting Date Cumulative Vested Percentage On [ , 20 ] [ ]% On [ , 20 ] [ ]% On [ , 20 ] [ ]% On [ , 20 ] [ ]% On [ , 20 ] [ ]% provided, however, that such restrictions will lapse, and the Phantom Units shall vest in accordance with the foregoing provision only if the Service Provider has continuously provided services to the Partnership Entities from the Date of Grant until the date of vesting.

Vesting of Phantom Units. The Phantom Units are restricted in that they may be forfeited by the Service Provider and in that they may not, except as otherwise provided in the Plan, be transferred or otherwise disposed of by the Service Provider. Subject to the terms and conditions of this Agreement, the forfeiture restrictions on the Phantom Units shall lapse, and the Phantom Units shall vest as follows: Vesting Date Cumulative Vested Percentage On [ [_______, 20 20__] [ [___]% On [ [_______, 20 20__] [ [___]% On [ [_______, 20 20__] [ [___]% On [ [_______, 20 20__] [ [___]% On [ [_______, 20 20__] [ [___]% provided, however, that such restrictions will lapse, and the Phantom Units shall vest in accordance with the foregoing provision only if the Service Provider has continuously provided services to the Partnership Entities from the Date of Grant until the date of vesting.

Vesting of Phantom Units. The Phantom Units are restricted in that they may be forfeited by the Service Provider Recipient and in that they may not, except as otherwise provided in the Plan, be transferred or otherwise disposed of by the Service ProviderRecipient. Subject to the terms and conditions of this Agreement, the forfeiture restrictions on the Phantom Units shall lapse, and the Phantom Units shall vest as follows: Vesting Date Cumulative Vested Percentage On [ [_______, 20 20__] [ [___]% On [ [_______, 20 20__] [ [___]% On [ [_______, 20 20__] [ ]% On [ , 20 ] [ ]% On [ , 20 ] [ [___]% provided, however, that such restrictions will lapse, and the Phantom Units shall vest in accordance with the foregoing provision only if the Service Provider Recipient has continuously provided services to the Partnership Entities from the Date of Grant until the date of vesting.