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Gatekeeper Contract and Vendor Management Glossary

Search common contracting language and take a deeper dive to discover what each means

Glossary > P

Pro Rata

Pro Rata is Latin, meaning 'for the rate', or assigning an amount to a fraction according to its share of the whole.

You can easily search for the phrase 'Pro Rata' within your portfolio from any part of the Gatekeeper platform for quick visibility of contract terms. 

Example: All payments owed to the Holders of the Notes (whether for principal, interest, or otherwise) shall be made pro rata among such Holders based upon the aggregate unpaid principal amount of the Notes held by each such Holder.

 

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