pro rata

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Pro Rata

[Latin, Proportionately.] A phrase that describes a division made according to a certain rate, percentage, or share.

In a Bankruptcy case, when the debtor is insolvent, creditors generally agree to accept a pro rata share of what is owed to them. If the debtor has any remaining funds, the money is divided proportionately among the creditors, according to the amount of the individual debts.

A pro rata clause in an automobile insurance policy provides that when an insured person has other insurance policies covering the same type of risk, the company issuing the policy with the pro rata clause will be liable only for a proportion of the loss represented by the ratio between its policy limit and the total limits of all the available insurance.

pro rata

(proh rat-ah or proh ray-tah) adj. from Latin for "in proportion," referring to a share to be received or an amount to be paid based on the fractional share of ownership, responsibility, or time used. Examples: an heir who receives one-quarter of an estate may be responsible for one quarter of the estate taxes as his/her pro rata share. A buyer of a rental property will pay his/her pro rata share of the property taxes for that portion of the year in which he/she holds title.

pro rata

adjective alloted, apportioned, distributed, equivalently, in proportion, on even terms, proportionate
Associated concepts: apportionment, pro rata share

pro rata

adverb each to each, in equal shares, respectively, to each according to his share
See also: per capita

PRO RATA. According to the rate, proportion or allowance. A creditor of an insolvent estate, is to be paid pro rata with creditors of the same class.

References in periodicals archive ?
This pro-rated dividend is in addition to the previously announced quarterly common stock dividend that will be paid on December 1, 2011 to shareholders of record as of November 15, 2011.
The pro-rated ETF policy applies to all new service agreements beginning on or after November 2, 2008, regardless of whether you are a new customer with a new service agreement or an existing customer who has renewed your service agreement.
This represents a 2 percent increase from the first quarter's pro-rated dividend which had been paid based on a rate of 50 cents.
As generators connect to the new trunkline they will pay a pro-rated share of the costs based on their generating capacity.
But a bonus, which is pro-rated throughout the contract, is accelerated if a player quits or is cut.
The company's first dividend payment, declared on December 17, 1992, was pro-rated from the offering's closing date.
Generators that connect to the grid via the new lines will pay a pro-rated share of the costs based on the amount of capacity they need.
Recruits would sign a contract making them liable for a pro-rated share of their training - up to $56,800 - if they leave for another police department within that period, city officials said.
8125 per share and pro-rated for the number of days in the current quarter that such shares were issued and outstanding.
Beyond deferral of capital gains taxes and depreciation recovery, 1031 TIC exchanges offer ease of property ownership in the form of fee-simple, deeded fractional interests in institutional, investment-quality real estate; a pro-rated share of cash flow, depreciation and appreciation; typically independent professional asset and property managers; established governance rules and voting procedures among property owners; and a simplified closing process.
If he pays sooner, it's pro-rated - like in two weeks he'd pay $215.
CPP intends to use NXJ's business process automation functionality and ease of development to deliver imminent projects including an application for their call center that calculates pro-rated deposits for new residential customers as well as a process map of Cleveland Public Power's commercial connection business.