Common use of Performance Unit Account Clause in Contracts

Performance Unit Account. The General Partner shall establish and maintain a Performance Unit account, as a bookkeeping account on its records (the “Performance Unit Account”), for the Service Provider and shall record in such Performance Unit Account the number of Grant Date Performance Units granted to the Service Provider pursuant to this Agreement and the amount, if any, of accrued Distribution PIK Units. The Service Provider shall not have any interest in any fund or specific assets of the Partnership Entities by reason of this grant or the Performance Unit Account established for the Service Provider.

Performance Unit Account. The General Partner shall establish and maintain a Performance Unit account, as a bookkeeping account on its records (the “Performance Unit Account”), for the Service Provider and shall record in such Performance Unit Account the number of Grant Date Performance Units granted to the Service Provider pursuant to this Agreement and the amount, if any, cash value of DERs accrued Distribution PIK Unitsfrom time to time. The Service Provider shall not have any interest in any fund or specific assets of the Partnership Entities Employer by reason of this grant or the Performance Unit Account established for for, or DERs credited to, the Service Provider.