Common use of Vesting of Restricted Units Clause in Contracts

Vesting of Restricted Units. Except as otherwise provided in this Agreement, the Restricted Units will vest in accordance with the vesting schedule set forth in the following table, provided that the Director serves as a director of the Company from the Date of Grant through each vesting date set forth below (each, a “Vesting Date”): , 2­­___ 50% , 2­­___ 100% If, on any Vesting Date, the application of the vesting schedule set forth above results in a fractional Restricted Unit becoming vested, the number of Restricted Units vesting on such date shall be rounded up to the next whole number of Restricted Units. Restricted Units that have become vested pursuant to the schedule above are referred to herein as “Vested Units.”

Appears in 1 contract

Samples: Director Restricted Unit Agreement (Compressco Partners, L.P.)

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Vesting of Restricted Units. Except as otherwise provided in this Agreement, the Restricted Units will vest in accordance with the vesting schedule set forth in the following table, provided that the Director serves as continuously provides services to a director of the Company Entity from the Date of Grant through each vesting date set forth below (each, a “Vesting Date”): , 2­­___ 50% , 2­­___ 100% If, on any Vesting Date, the application of the vesting schedule set forth above results in a fractional Restricted Unit becoming vested, the number of Restricted Units vesting on such date shall be rounded up to the next whole number of Restricted Units. Restricted Units that have become vested pursuant to the schedule above are referred to herein as “Vested Units.”

Appears in 1 contract

Samples: Restricted Unit Agreement (Alon USA Partners, LP)

Vesting of Restricted Units. Except as otherwise provided in this Agreement, the Restricted Units will vest in accordance with the vesting schedule set forth in the following table, provided that the Director serves as Employee remains continuously employed by a director of the Company Entity from the Date of Grant through each vesting date set forth below (each, a “Vesting Date”): , 2­­2___ 50% 33⅓% , 2­­2___ 66⅔% , 2___ 100% If, on any Vesting Date, the application of the vesting schedule set forth above results in a fractional Restricted Unit becoming vested, the number of Restricted Units vesting on such date shall be rounded up to the next whole number of Restricted Units. Restricted Units that have become vested pursuant to the schedule above are referred to herein as “Vested Units.”

Appears in 1 contract

Samples: Employee Restricted Unit Agreement (Compressco Partners, L.P.)

Vesting of Restricted Units. Except as otherwise provided in this Agreement, the Restricted Units will vest in accordance with the vesting schedule set forth in the following table, provided that the Director serves as Employee remains continuously employed by a director of the Company Entity from the Date of Grant through each vesting date set forth below (each, a “Vesting Date”): January 4, 2­­2___ 5033⅓ % January 4, 2­­2___ 10066⅔ % January 4, 2___ 100 % If, on any Vesting Date, the application of the vesting schedule set forth above results in a fractional Restricted Unit becoming vested, the number of Restricted Units vesting on such date shall be rounded up to the next whole number of Restricted Units. Restricted Units that have become vested pursuant to the schedule above are referred to herein as “Vested Units.”

Appears in 1 contract

Samples: Restricted Unit Agreement (Compressco Partners, L.P.)

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Vesting of Restricted Units. Except as otherwise provided in this Agreement, the Restricted Units will shall vest in accordance with the vesting schedule set forth in the following table, provided that Executive remains continuously employed by a Company Entity and complies with the Director serves as a director of the Company covenants set forth in Section 8 from the Date of Grant through each vesting date set forth below (each, a “Vesting Date”): Date of Grant 331/3% December 31, 2­­___ 502015 662/3% December 31, 2­­___ 2016 100% If, on any Vesting Date, the application of the vesting schedule set forth above results in a fractional Restricted Unit becoming vested, the number of Restricted Units vesting on such date shall be rounded up to the next whole number of Restricted Units. Restricted Units that have become vested pursuant to the schedule above are referred to herein as “Vested Units.

Appears in 1 contract

Samples: Restricted Unit Agreement (Northern Tier Energy LP)

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