All of this should have been clearly stated in the prospectus. Considering that apparently management still haven't come to consensus of any offer for shortfalls, this is just another really concerning aspect of how loose management appear to be in my opinion.
First to pay is not a method that would be acceptable if it was not noted in the prospective. The prospectus just noted the date that payments needed to be made with nothing about preference to early payments.
Pro rata is the only logical option. Suprising that the management apparently have not nailed this down.
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