Phantom Restricted Unit definition

Phantom Restricted Unit means any Award granted under Section 6(b) as a Phantom Restricted Unit.
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Phantom Restricted Unit means any Award granted under Section 6(b) of the Plan and designated as a Phantom Restricted Unit.
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Phantom Restricted Unit means any Award granted under Section 6(b) as a Phantom Restricted Unit. “Prior Plan” shall mean the Partnership’s 2010 Long Term Incentive Plan, as amended through May 1, 2017. “Restricted Unit” shall mean any Unit granted under Section 6(b) as a Restricted Unit.
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Examples of Phantom Restricted Unit in a sentence

  • Any Phantom Restricted Unit shall have a value equal to the Fair Market Value of a Unit.

  • The Company has other share-based compensation plans in place which include a Performance Share Unit ("PSU") Plan, Phantom Restricted Unit ("PRU") Plan and Employee Share Purchase Plan.

  • If the foregoing schedule would produce fractional Phantom Restricted Units, the number of Phantom Restricted Units that vest shall be rounded down to the nearest whole Phantom Restricted Unit.

  • Each Phantom Restricted Unit shall have a value equal to the Fair Market Value of a Unit.

  • The Participant shall not have any interest in any fund or specific assets of the Partnership by reason of this grant or the Phantom Restricted Unit Account established for the Participant.

  • For purposes of this Agreement, each Phantom Restricted Unit shall be equivalent to one Unit.

  • The Partnership shall establish and maintain a Restricted Phantom Unit account, as a bookkeeping account on its records, (the "Phantom Restricted Unit Account") for the Participant and shall record in such Phantom Restricted Unit Account the number of Phantom Restricted Units granted to the Participant pursuant to this Agreement.

  • DERs. From the Date of Grant through the date the Phantom Restricted Units are converted and distributed pursuant to Paragraph 4 or earlier forfeited, if any cash distributions are made by the Partnership with respect to its Units, a DER will be paid to the Participant equal to the value of the cash payment that would have been paid if such Phantom Restricted Units credited to the Participant's Phantom Restricted Unit Account at the time of the declaration of the cash payment had been Units.

  • The Partnership shall establish and maintain a Restricted Phantom Unit account, as a bookkeeping account on its records, (the “Phantom Restricted Unit Account”) for the Participant and shall record in such Phantom Restricted Unit Account the number of Phantom Restricted Units granted to the Participant pursuant to this Agreement.

  • On ______ ___ of each calendar year, or the next business day after _____ ___ if ____ __ is not a business day, (the "Distribution Date") all of the Phantom Restricted Units credited to the Participant's Phantom Restricted Unit Account that vested during such calendar year pursuant to Paragraph 3 above shall become converted to Units to be issued under the Plan, and distributed as such to the Participant as soon as administratively practicable on or after the Distribution Date.

Related to Phantom Restricted Unit

  • Restricted Unit means a Unit granted under the Plan that is subject to a Restricted Period.

  • Restricted Share Unit means the right granted to a Participant pursuant to Article 7 to receive a Share at a future date.

  • Stock Unit means a bookkeeping entry representing the equivalent of one Common Share, as awarded under the Plan.

  • Phantom Stock means a right granted to an Eligible Individual under Section 12 representing a number of hypothetical Shares.