Examples of Phantom Unit Account in a sentence
No payment shall be made to theParticipant from or with respect to the Participant’s Phantom Unit Account except to the extent that both an Event Vesting Condition and the Time Vesting Condition have been satisfied, except that the Time Vesting Condition shall not be applicable in the event of the Change in Control.
No Units shall be issued to the Service Provider at the time the grant is made, and the Service Provider shall not be, nor have any of the rights and privileges of, a unitholder or limited partner of the Partnership with respect to any Phantom Units recorded in the Phantom Unit Account.
The Finance Committee shall give each Participant prompt notice of any credits, charges, adjustments, redemptions, forfeitures, reallocations or other transactions affecting such Participant's Phantom Unit Account.
No Units shall be issued to the Participant at the time the grant is made, and the Participant shall not be, nor have any of the rights or privileges of, a Unitholder of the Partnership with respect to any Phantom Units recorded in the Phantom Unit Account.
Subject to applicable law, any amounts payable to any Participant hereunder as credited to the Participant's Phantom Unit Account are subject to reduction to satisfy any liabilities owed to the Company, Holdings or any of their respective subsidiaries by the Participant.
Within two months from the date when the amount received by a non-profit organization on formation of target capital would be 3 million rub.., the non-profit organization should deliver financial funds in trust management to managing company.
The Participant shall not have any interest in any fund or specific assets of the Partnership by reason of this award or the Phantom Unit Account established for the Participant.
The Company shall maintain a Phantom Unit Account for the Participant to which shall be credited the total number of Phantom Units.
The General Partner shall establish and maintain a bookkeeping account on its records for the Service Provider (a “Phantom Unit Account”) and shall record in such Phantom Unit Account: (a) the Target Amount of Phantom Units granted to the Service Provider and (b) the number of Units deliverable to the Service Provider at settlement on account of Phantom Units that have vested.
All decisions as to whether Phantom Units have vested (including, but not limited to, decisions as to what constitutes “permanent dis- ability” and whether the Time Vesting or Event Vesting Conditions have been satisfied or who is an “unaffiliated third party”) shall be made by the Company and its decision shall be final, binding and conclusive in the absence of clear and convincing evidence that such decision was not made in good faith.1.3 Phantom Unit Account.