Examples of Partnership Phantom Unit in a sentence
Except as otherwise provided in this Section 3.5, each such Parent Phantom Unit assumed and converted pursuant to this Section 3.5 shall continue to have, and shall be subject to, the same material terms and conditions and the same vesting conditions as applied to the corresponding Partnership Phantom Unit immediately prior to the Effective Time, and shall settle in Parent Units upon vesting.
Except as otherwise provided in this Section 3.5(c)(iii), each such Parent Restricted Share Award assumed and converted pursuant to this Section 3.5(c)(iii) shall continue to have, and shall be subject to, the same material terms and conditions and the same vesting conditions as applied to the corresponding Partnership Phantom Unit immediately prior to the Effective Time, and shall settle in Parent Shares upon vesting.
Not later than immediately following the Effective Time, Parent shall deliver to each holder of a Partnership Phantom Unit assumed by Parent an appropriate notice setting forth such holder’s rights pursuant to the corresponding Parent Phantom Unit.
Except as otherwise provided in this Section 3.6, each such Parent RSU shall continue to have and be subject to the same vesting and other terms and conditions as applied to the corresponding Partnership Phantom Unit immediately before the Effective Time.
Each such Assumed Restricted Unit Award shall be converted into a restricted unit award to receive a number of Parent Common Units (or the cash equivalent thereof, as applicable) equal to the product obtained by multiplying (x) the number of Partnership Common Units subject to such Partnership Phantom Unit immediately prior to the Effective Time by (y) the Exchange Ratio, rounded up or down to the nearest whole Parent Common Unit.
Effective January 1, 1994, the Businesses adopted Statement of Financial Accounting Standards No. 112, "Employers' Accounting for Postretirement Benefits" ("SFAS 112").
Pursuant to Section 3(b)(iii) of the Agreement, the Employer shall grant or cause the grant of Phantom Options with respect to a Partnership Phantom Unit and a MLP Phantom Unit (as defined below) to the Executive on the following terms and conditions.
Payment in respect of Phantom Units Awards, including DERs will be subject to applicable withholding described in Section 10 of the Partnership Phantom Unit Award.
For the avoidance of doubt, each Partnership Phantom Unit that is outstanding as of the Effective Time shall not vest as of the Effective Time, and will continue to be eligible to vest in accordance with the terms of the applicable award agreements governing the underlying Partnership Phantom Units.
Any accrued but unpaid DERs recorded in the DER Account shall be paid to the appropriate holder of the corresponding Partnership Phantom Unit Award at Closing.