Notional Unit definition

Notional Unit means a Performance Award granted pursuant to the Plan which entitles the Grantee to the opportunity to be receive Restricted Shares on or after the Share Issuance Date as set forth herein.
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Notional Unit means a notional Unit granted under the Plan that, upon vesting, entitles the Participant to receive a Unit or an amount of cash equal to the Fair Market Value of a Unit. Whether cash or Units are received for Notional Units shall be determined in the sole discretion of the Committee and shall be set forth in the Award Agreement.
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Notional Unit means a Performance Award granted pursuant to the Plan which entitles the Grantee the opportunity to receive Common Shares on or after the Share Issuance Dates as set forth herein.
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Examples of Notional Unit in a sentence

  • Each Notional Unit will be the equivalent of one notional membership unit of TJ Chemical.

  • Your individual Notional Unit holding can be separately identifiable under your Plan record on the Metis administration system.

  • A Notional Unit shall not represent an ownership interest in actual Units of Partnership Interest of TRG, and Executive shall have no rights as a partner in TRG with respect to the Notional Units credited to the Deferred Compensation Account.

  • Upon the forfeiture of any Notional Unit (including, without limitation, in connection with settlement thereof in Restricted Shares as described above), the Dividend Equivalent with respect to such forfeited Notional Unit shall also be forfeited.

  • Grantee shall not be, or have any of the rights or privileges of, a unitholder of the Company with respect to any Notional Unit, DER or Distribution Credit.

  • Upon approval of the Plan by the common unitholders of the Company, each Notional Unit and related DER shall be automatically converted into a right to receive one Restricted Unit and a tandem DER.

  • A Notional Unit will be utilized solely as a device for the measurement and determination of the amounts to be paid to or for the benefit of Executive pursuant to this Agreement and will not under any circumstances constitute or be treated as a trust fund of any kind.

  • Each Notional Unit and Restricted Unit is accompanied by a tandem Distribution Equivalent Right (each, a “DER”), which provides that when the Company makes a cash distribution with respect to a Unit, the Company will record book-entry distribution credits in the manner provided in Section 4(b) (the “Distribution Credits”).

  • No Common Units shall be issued to Participant at the time the grant is made, and Participant shall not be, nor have any of the rights or privileges of, a unitholder of the Partnership with respect to any Notional Units recorded in the Notional Unit Account.

  • The Notional Unit Award will be converted from 300,000 Notional Units (representing an unsecured promise to receive 300,000 Notional Units of Management LLC) into notional shares representing an unsecured promise to receive a number of Shares equal to the product of (i) 300,000 and (ii) the Conversion Ratio (the “Notional Shares”), subject to the terms and conditions of such Notional Shares as set forth herein.