Phantom Units definition

Phantom Units means an Award granted pursuant to Section 8 or Section 10.

Phantom Units means any phantom unit that entitles the holder to receive Acquiror Common Units (including corresponding distribution rights) and/or cash that was granted pursuant to the Acquiror LTIP.

Phantom Units means any phantom unit that entitles the holder to receive common units of the MLP (including corresponding distribution rights) and/or cash that was granted pursuant to the LTIP.

Examples of Phantom Units in a sentence

• Such DERs shall be converted to cash, Units, Restricted Units and/or Phantom Units by such formula and at such time and subject to such limitations as may be determined by the Committee.

• The Committee shall have the authority to determine the Employees, Consultants and Directors to whom Restricted Units or Phantom Units shall be granted, the number of Restricted Units or Phantom Units to be granted to each such Participant, the Restricted Period, the conditions under which the Restricted Units or Phantom Units may become vested or forfeited and such other terms and conditions as the Committee may establish with respect to such Awards.

• The Committee may, in its discretion, waive in whole or in part such forfeiture with respect to a Participant’s Restricted Units and/or Phantom Units.

• The Committee shall specify, or permit the Participant to elect in accordance with the requirements of Section 409A, the conditions and dates or events upon which the cash or Units underlying an award of Phantom Units shall be issued, which dates or events shall not be earlier than the date on which the Phantom Units vest and become nonforfeitable and which conditions and dates or events shall be subject to compliance with Section 409A (unless the Phantom Units are exempt therefrom).

• Units issued upon payment of the Phantom Units shall be subject to the terms of the Plan and the Partnership Agreement.

More Definitions of Phantom Units

Phantom Units means a notional Unit granted under the Plan, which upon vesting entitles the Participant to receive a Unit.

Phantom Units means a conditional promise by TEPPCO to make payment to a Grantee in cash, determined by reference to Units and in accordance with the terms of the Plan and the applicable Award Agreement.

Phantom Units means rights granted to an Eligible Individual under Section 8 representing a number of hypothetical Units.

Phantom Units means phantom units issued to Non-Employee Directors of the AmeriGas Board under the 2010 AmeriGas LTIP.

Phantom Units. A Phantom Unit means a notional Company Unit granted under this Arrangement.

Phantom Units has the meaning set forth in Section 4.05(b).

Phantom Units means the Stock Units awarded to Non-Employee Directors under Section 4(b).