ProRated Share

ProRated Share. When used in connection with the Senior Lender "Pro-Rated Share" shall be Senior Indebtedness divided by the sum of the Senior Indebtedness and Subordinated Indebtedness as of the date of the last Senior Payment Default. When used in the context of the Subordinated Lender, "Pro-Rated Share" shall be Subordinated Indebtedness divided by the sum of the Subordinated Indebtedness and the Senior Indebtedness as of the date of the last Senior Payment... Default. By way of example, if the Senior Indebtedness is $1,000,000 and the Subordinated Indebtedness is $2,000,000, the 2 Pro-Rated Share of the Senior Lender would be 33.33% (1,000,000/3,000,000) and the Pro-Rated Share of the Subordinated Indebtedness would be 66.67% (2,000,000/3,000,000). For the purpose of the foregoing calculations, the Senior Indebtedness shall be reduced by the Initial Share actually paid to the Senior Lender. View More