Pro Rata Apportionment definition
Pro Rata Apportionment means the payment of the Cash Payment to the Sellers in accordance with percentages to be provided by the Sellers prior to or on the date of Closing. In any event, the percentages shall include some allocation to Placer and to the Pangburns, which shall individually be a minimum of Ten Dollars $10 (the total of which collectively shall equal the Cash Payment) and other good and valuable consideration as set forth in this Agreement, the sufficiency of which is acknowledged hereby by the Sellers, collectively and individually, for the sale of their respective assets as a part of this Agreement.