Partial Recovery - Pro Rata Distribution Sample Clauses

The Partial Recovery - Pro Rata Distribution clause establishes how recovered funds are distributed among parties when the full amount owed cannot be collected. In practice, if a debtor pays only a portion of the total debt, each creditor receives a share of the recovered amount proportional to their original claim. This ensures that all parties are treated fairly and equitably in situations where full recovery is not possible, preventing any single party from receiving preferential treatment.
Partial Recovery - Pro Rata Distribution. If the amount collected is not sufficient to satisfy the amounts referred for collection, then the amount collected shall be distributed on a pro rata basis as provided in R&TC Section 19282, subdivisions (a) and (d). This is based on a percentage equal to the current balance of each case divided by the total balance of the account.
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Related to Partial Recovery - Pro Rata Distribution

  • Contract Distribution The Employer will provide all current and new employees with a link to the new Agreement. Each department or unit will maintain a paper copy of the contract accessible to all employees.