Pro-rata access Clause Samples
A pro-rata access clause ensures that parties receive access, rights, or allocations in proportion to their respective shares, investments, or entitlements. For example, if a group of investors is entitled to purchase additional shares in a future funding round, each investor can buy a percentage of the new shares that matches their current ownership percentage. This clause is commonly used to maintain fairness and prevent dilution of existing interests, ensuring that no party is unfairly disadvantaged as new opportunities or resources become available.
Pro-rata access. An Employee is entitled to access their long service leave entitlement, on a pro-rata basis, after an initial seven years of paid Continuous Service.
Pro-rata access. An Employee may access this entitlement, on a pro-rata basis, after an initial 7 years of continuous service.
Pro-rata access. (a) An Employee may access this entitlement, on a pro rata basis, after an initial 7 years of continuous service.
Pro-rata access. An employee may access this entitlement, on a pro-rata basis, after an initial period of 7 years’ of continuous service. An employee is entitled to be paid out the pro rata component of their long service leave after 7 years if they resign or if their services are terminated.