Deferred Unit Account definition

Deferred Unit Account means a bookkeeping account established and maintained by the Company in the name of each Participant who receives a Deferred Stock Unit Award.

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Deferred Unit Account means an account maintained by SmartREIT for each DUP Participant that is credited with notional grants of Deferred Units received by a DUP Participant from time to time.

Deferred Unit Account means the unfunded bookkeeping account established by the Committee pursuant to the Plan in accordance with an election by an Eligible Director to defer Compensation and receive deferred compensation hereunder, measured in Units and paid in cash.

Examples of Deferred Unit Account in a sentence

From time to time, the Company shall deduct the value of full and/or fractional shares of Stock, as determined by the Committee, from the Grantee’s Deferred Unit Account and contribute such full and/or fractional shares of Stock to the Grantee’s Deferred Stock Account in the Trust.
The Company shall withhold cash dividends payable on the shares of Stock held in the Trust and, on each date that cash dividends are otherwise payable to the holders of Stock, the Company shall credit the Dividend Equivalents to the Grantee’s Deferred Unit Account.
Notwithstanding any other provision of this Agreement, in lieu of delivering Class A Units or other securities or property credited to the Employee’s Deferred Unit Account in respect of all or a portion of the Deferred Units, the Company may deliver to the Employee an amount of cash equal to the Liquidation Value of such Class A Units or the Fair Market Value of such other securities or property.
Such obligation shall be payable or distributable in accordance with the terms of the agreement, plan or arrangement relating to the Deferred Unit Account.
The Employee shall be entitled to receive all cash distributions paid with respect to each Class A Unit credited to his or her Deferred Unit Account, provided that any such distribution credited to the Employee’s Deferred Unit Account by the Company on behalf of the Employee shall be paid (by the Company or by Windy Holdings) only at the time the underlying Deferred Unit is settled pursuant to Section 5 and only if such Deferred Unit is a Vested Deferred Unit on the Settlement Date (as defined below).
On the Date of Grant, the Company shall establish a Deferred Unit Account for the Grantee and shall credit such newly established Deferred Unit Account with the number of Deferred Stock Units attributable to the Deferred Stock Unit Award.
Such Deferred Unit Account will designate the number of such Deferred Units that are DCP Deferred Units, SMIP Deferred Units or Special Bonus Deferred Units, as the case may be.
On the Date of Grant, the Company shall credit the Grantee’s previously established Deferred Unit Account with the number of Deferred Stock Units attributable to the Deferred Stock Unit Award.
The Employee will receive a distribution of the amounts credited to the Employee’s Deferred Unit Account, including all distributions credited to the Employee’s Deferred Unit Account pursuant to Section 4 with respect to such Deferred Units, as provided in Exhibit A.
The Investor shall be entitled to receive all cash distributions paid with respect to the Class A Common Units underlying the Deferred Units, provided that any such distribution will be subject to same vesting requirements as the underlying Deferred Unit and shall be credited to the Investor’s Deferred Unit Account by the Company on behalf of the Investor, to be paid (by the Company or by VH Holdings) only at the time the underlying Deferred Unit is settled pursuant to Section 5.