Pro Rated Refund Amount definition
Pro Rated Refund Amount means an amount equal to the Equivalent Monthly Access Charge multiplied by the number of complete months remaining between termination, in accordance with clauses 11.2, or 11.6 as applicable, and the end of the relevant Year.
Examples of Pro Rated Refund Amount in a sentence
If you elect to terminate this agreement hereunder, paragraph 11.7 of the Terms of Business shall apply and we will refund to you an amount equal to the Pro Rated Refund Amount.