Some salvage clauses require that any salvage be paid to the obligee up to the full amount of all losses, and others provide that any salvage be divided between the surety and the obligee on a pro rata basis, in the proportion that each party has suffered loss.
As a result, Didi Chuxing backers Apple and Tencent are thinking of joining the investment on a pro rata basis in order to avoid diluting their stakes.
Stockholders' equity would be wiped out under the plan, and the company would be owned mainly by general unsecured creditors, who would receive a pro rata share of equity in the reorganized company.
If the offer is not fully subscribed, any remaining KBR shares will be given to stockholders as a special dividend on a pro rata basis, Halliburton, which is based in Houston, said.
In short, participating preferred shareholders are entitled to receive their initial investment, plus a pro rata share of the remaining capital in a liquidation event.
The appointment of Yvonne Ferguson at the MoD is thought to have made her one of the most highly paid staff in Whitehall – with a pro rata salary of more than £500,000 pa.
In China, operating profit on a pro rata basis fell 37percentto to 106 million euros.
Participation rights afford its holder a claim to not only the liquidation preference in an acquisition, but also a pro rata share (on an as-converted basis) of proceeds due to common holders.
The Department of Labor (DOL) has few constraints on what it charges the federal agencies, passing on its costs plus, in some cases, a fee based on a pro rata share of administrative costs.
The bonus, which staff will collect in their May pay will be paid on a pro rata basis equivalent to 1.5% of salary.
