Quarterly Proration definition
Quarterly Proration means an adjustment to an amount where, in respect of a calendar year, the amount is reduced to be a proportion equal to N/4 of the amount where “N” = the number of calendar quarters remaining in such calendar year including the calendar quarter in which the event occurs, unless expressly indicated otherwise;
Examples of Quarterly Proration in a sentence
If the first allocation of Income Class Units to the Contract occurs on or after the LWA Eligibility Date, the LWA will be immediately available (subject, if applicable, to Quarterly Proration).