Pro Rata Part definition

Pro Rata Part means a fraction, the numerator of which is the number of days between the Grant Date and either the ending date for each Tranche of the Performance Period or the date of the termination of the Participant’s employment (whichever is earlier) and the denominator of which is 301 for Tranche 1; 667 for Tranche 2; and 1,063 for Tranche 3 (i.e.: the number of days from the Grant Date through the end of each Tranche or in the case of Tranche 3, the number of days from the Grant Date through January 31, 2018).

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Pro Rata Part means the proportion that a percentage interest of a Member bears to the aggregate interest in the Company of all Members.

Pro Rata Part means, when determined for any Lender, the proportion (stated as a percentage) that such Lender's Commitment bears to the Total Commitment, or, if the Total Commitments shall have been terminated, then the proportion (stated as a percentage) that the sum of the Principal Debt owed to such Lender bears to the Total Principal Debt owed to all Lenders.

Examples of Pro Rata Part in a sentence

Each Lender is entitled to receive its Pro Rata Part of any reimbursement that it makes to Administrative Agent if Administrative Agent is subsequently reimbursed from other sources.
Each payment or prepayment shall be distributed to each Lender in accordance with its Pro Rata Part of that payment or prepayment.
Except as otherwise provided in the Loan Papers, nothing in the Loan Papers shall be deemed to give any Lender any advantage over any other Lender insofar as the Obligation arising under the Loan Papers is concerned, or to relieve any Lender from absorbing its Pro Rata Part of any losses sustained with respect to the Obligation (except to the extent such losses result from unilateral actions or inactions of any Lender that are not made in accordance with the terms and provisions of the Loan Papers).
No Lender is responsible for the failure of any other Lender to make its Pro Rata Part of any Borrowing.
No Lender shall be responsible for the failure of any other Lender to make its Pro Rata Part of any Borrowing.

More Definitions of Pro Rata Part

Pro Rata Part mean, at any time and for any Lender, the proportion (stated as a percentage) that the Principal Debt owed to it bears to the total Principal Debt owed to all Lenders.

Pro Rata Part means for each Lender, (i) for all purposes where no Loan is outstanding, such Lender's Commitment Percentage for matters relating to the Line of Credit Loan Commitment and (ii) otherwise, the proportion which the portion of the outstanding Loans owed to such Lender bears to the aggregate outstanding Loans owed to Lenders at the time in question (calculated separately for each Lender for Loans under the Line of Credit).

Pro Rata Part means, in any particular instance, the proportion which the number of shares of Common Stock owned by Subscriber (assuming for this purpose that all securities exercisable, exchangeable or convertible for shares of Common Stock (“Common Stock Equivalents”) owned by such Stockholder have been fully exercised, exchanged, or converted) bears to the aggregate number of shares of Common Stock owned by all security holders of the Company (assuming for this purpose that all Common Stock Equivalents have been fully exercised, exchanged or converted).

Pro Rata Part means, in any particular instance, the proportion that the number of Shares owned by a Stockholder (assuming for this purpose that all options, warrants, rights and exchangeable or convertible securities to purchase or acquire Shares ("Share Equivalents") owned by such Stockholder have been fully exercised, exchanged or converted) bears to the aggregate number of Shares owned by all Stockholders (assuming for this purpose that all Share Equivalents owned by all Stockholders have been fully exercised, exchanged or converted).

Pro Rata Part means, when determined for any Lender, (a) if there is no Principal Debt or LC Exposure, the proportion (stated as a percentage) that such Lender’s Committed Sum bears to the Facility Committed Sum or (b) if there is any Principal Debt or LC Exposure, the proportion (stated as a percentage) that the sum of (i) the Principal Debt owed to such Lender and (ii) and (without duplication) the LC Exposure of such Lender, bears to the (x) aggregate Principal Debt owed to all Lenders and (y) (without duplication) the LC Exposure of all Lenders.

Pro Rata Part means an amount equal to the applicable Available Funds multiplied by a fraction the numerator of which is the outstanding principal amount of the Notes and the denominator of which is the aggregate principal amount of Debt of the Company then outstanding.

Pro Rata Part. Required Lenders," or "Total Commitment;"