Phantom Unit Value definition

Phantom Unit Value means the value of one Phantom Unit, as determined in accordance with Section 5(c).
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Phantom Unit Value means the sum of the Initial Value of a Phantom Share and the Original Value of the related Cash Right which, together with such Phantom Share, comprise a Phantom Unit. The Phantom Unit Value of Phantom Units acquired by Participants pursuant to deferrals of 1993 Total Compensation shall be $16.67.
Sample 1
Phantom Unit Value means, after the Members have received distributions on all Units and/or sale proceeds on all Units in which the Phantom Unit does not participate, taking into account all distributions and sales proceeds since the date of issuance of the applicable Phantom Unit, an amount equal to the Distribution Threshold for such Phantom Unit, an amount per Phantom Unit that would, in connection with the applicable Deemed Liquidation Event, (i) be distributed under the LLC Agreement to a hypothetical Member holding a Common Unit or (ii) received in cash by a hypothetical Member holding a Common Unit in connection with the sale, exchange or transfer of such Common Unit.
Sample 1

Examples of Phantom Unit Value in a sentence

  • As of the date of the Distribution Event, the Phantom Unit Value shall be equal to the Net Equity Value divided by 10,000.

  • Example calculations of Phantom Unit Value are set forth on the attached Exhibit.

  • A Phantom Unit shall be a bookkeeping credit equal in value to the Phantom Unit Value at the time of grant.

  • The value of a Participant’s Account represented by Phantom Units shall be determined as of the applicable Distribution Event and the Participant shall not be entitled to any increases in Phantom Unit Value thereafter.

  • Amount of Conversion: The amount to be credited to a Participant's Award Account for each Phantom Unit at the date it is converted into a dollar equivalent shall be equal to the amount, if any, by which the Phantom Unit Value at the Valuation Date coinciding with the conversion date exceeds the Initial Phantom Unit Value applicable for such Award Account.

  • As soon as administratively practicable after a Deemed Liquidation Event and in no event later than sixty (60) days after such Deemed Liquidation Event, each Participant (or a Participant’s Designated Beneficiary if a Participant is deceased) shall be entitled to receive a lump sum payment equal to the Phantom Unit Value for each vested and outstanding Phantom Unit held by such Participant.

  • Each Participant’s Account shall be credited with Phantom Units awarded pursuant to Section 4.3, and the value of the Participant’s Account shall be equal to the number of vested Phantom Units credited to the Account (which Phantom Units have not been forfeited pursuant to Section 6.3 or pursuant to the terms of the Participant’s Phantom Unit Award Agreement) multiplied by the Phantom Unit Value, determined as of the date of the Distribution Event.

  • The Phantom Unit Value of Phantom Units acquired by Participants pursuant to deferrals of 1993 Total Compensation shall be $16.67.

  • The Committee shall cause to be maintained for each Award Account the Initial Phantom Unit Value for the grant credited to the Award Account.

  • As soon as practicable (but in no event later than 30 days) following the Vesting Date of the Phantom Units, the Company shall make a lump sum cash payment to Employee (or in the event of Employee’s death, to Employee’s estate) in an amount equal to the sum of (i) the product of the Phantom Unit Value, multiplied by the number of Phantom Units awarded hereunder, and (ii) any accrued Dividend Equivalents.

Related to Phantom Unit Value

  • Phantom Unit means a notional Unit granted under the Plan which upon vesting entitles the Participant to receive, at the time of settlement, a Unit or an amount of cash equal to the Fair Market Value of a Unit, as determined by the Committee in its sole discretion.

  • Unit Value means, at any time, the value of each Stock Unit, which value shall be equal to the Fair Market Value (as defined in the Plan) of a Share on such date.

  • Phantom Share means a right, pursuant to the Plan, of the Grantee to payment of the Phantom Share Value.

  • Phantom Stock Unit means the right to receive the value of one (1) share of the Company’s Common Stock, subject to the provisions of Section 8.4 of the Plan.

  • Award Value means the value, in dollars, of an award made to a Participant and as stated in the applicable Award Agreement, which is provided under the Plan in the form of PSUs or RSUs, as the case may be.

  • Performance Unit Award means an Award granted under Article XI of the Plan under which, upon the satisfaction of predetermined Performance Goals, a cash payment shall be made to the Holder, based on the number of Units awarded to the Holder.

  • Performance Share Unit or “PSU” means a unit equivalent in value to a Share, credited by means of a bookkeeping entry in the books of the Corporation in accordance with Article 6;

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

  • Performance Share means an Award denominated in Shares which may be earned in whole or in part upon attainment of performance goals or other vesting criteria as the Administrator may determine pursuant to Section 10.

  • Phantom Shares means an Award of the right to receive Shares issued at the end of a Restricted Period which is granted pursuant to Section 6(e) of the Plan.

  • Performance Share Units means Performance Share Units granted to an Eligible Individual under Section 9.1(b).

  • Share Unit means either an RSU or a PSU, as the context requires.

  • Stock Unit Account means the bookkeeping account established by the Company pursuant to Section 6.4.

  • Cash Performance Award means an Award that is denominated by a cash amount to an Eligible Person under Section 10 hereof and payable based on or conditioned upon the attainment of pre-established business and/or individual Performance Goals over a specified performance period.

  • Performance Stock Unit means a right granted to a Participant pursuant to Section 8.2, to receive Stock, the payment of which is contingent upon achieving certain Performance Goals or other performance-based targets established by the Committee.

  • Phantom Stock Award means an Award granted under Paragraph X of the Plan.

  • Performance Unit means an Award which may be earned in whole or in part upon attainment of performance goals or other vesting criteria as the Administrator may determine and which may be settled for cash, Shares or other securities or a combination of the foregoing pursuant to Section 10.

  • Stock Unit Award means a right to receive shares of Common Stock which is granted pursuant to the terms and conditions of Section 7(c).

  • Performance Shares means Shares or an Award denominated in Shares which may be earned in whole or in part upon attainment of performance criteria established by the Administrator.

  • Share Units means the hypothetical Shares that are credited to the Share Unit Accounts in accordance with Article 7.

  • Phantom means a volume of material behaving in a manner similar to tissue with respect to the attenuation and scattering of radiation. This requires that both the atomic number (Z) and the density of the material be similar to that of tissue.

  • Performance Unit Agreement means a written agreement between the Company and a Holder with respect to a Performance Unit Award.

  • Performance Units means an Award which may be earned in whole or in part upon attainment of performance criteria established by the Administrator and which may be settled for cash, Shares or other securities or a combination of cash, Shares or other securities as established by the Administrator.

  • Dividend Equivalent Unit means the right to receive a payment, in cash or Shares, equal to the cash dividends or other cash distributions paid with respect to a Share.

  • Performance Share Award means an Award entitling the recipient to acquire shares of Stock upon the attainment of specified Performance Goals.

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

Most Referenced Clauses

Most Referenced Definitions