Prorated Share Clause Samples
A Prorated Share clause defines how costs, benefits, or obligations are divided among parties based on their proportional interest or participation. In practice, this means that if multiple parties are involved in a project or investment, each party is responsible for or entitled to a portion of the total amount that corresponds to their percentage stake. For example, if a party owns 25% of a joint venture, they would pay 25% of the expenses and receive 25% of the profits. This clause ensures fairness and clarity by allocating amounts according to each party's actual involvement, preventing disputes over unequal contributions or distributions.
Prorated Share. Tenant's prorated share of the Operating Expenses shall be computed and paid in twelve (12) equal monthly estimated payments as determined in the Landlord's reasonable discretion. Such Additional Rent shall be paid by Tenant on or before the 1st day of each month with the Base Rent. As soon as is reasonably possible, but in any event within ninety (90) days following the end of each calendar year, Landlord shall furnish to Tenant a statement showing the Premises' and Building's actual Operating Expenses for the preceding calendar year. In the case of a deficiency, Tenant shall promptly remit its prorated share of such deficiency to Landlord. In the case of a surplus, Landlord shall apply said surplus to the next Additional Rent due from Tenant.
Prorated Share a. Assignment of three and one-half (3.5) or four (4) hours per day will qualify for one-half (.5) of the Board contribution specified in B-1 of this Article.
b. Assignment of five (5) or six (6) hours per day will qualify for three quarters (.75) of the Board contribution specified in B-1 of this Article.
Prorated Share. The prorate share is defined as the amount of the Tenant’s square footage in relation to the square footage of the entire project. As an example: If the Project is 10,000 square feet and the Tenant occupies 1,000 square feet, then the Tenant is responsible for 10% of the cost.
Prorated Share