Pro rata

{
  "id": "MLC-T-LAW-003929",
  "term": "Pro rata",
  "field": "Law",
  "definition": "Describing a distribution or allocation of something in a proportional manner, where each recipient receives a share based on their fractional ownership or contribution. In bankruptcy proceedings, for example, creditors of the same class receive a pro rata share of the debtor's remaining assets based on the size of their individual claims. This method is also used to calculate dividend payments to shareholders or to distribute partnership profits.",
  "url": "https://mlchart.com/terminology/law/pro-rata/"
}