pari passu

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Related to pari passu: mutatis mutandis

Pari Passu

[Latin, By an equal progress; equably; ratably; without preference.] Used especially to describe creditors who, in marshalling assets, are entitled to receive out of the same fund without any precedence over each other.

pari passu

‘share and share alike’, a term used in several contexts but especially in relation to the rights and ranking of creditors of an insolvent estate; it denotes an entitlement to payment of their debts in shares proportionate to their respective claims.

PARI PASSU. By the same gradation.

References in periodicals archive ?
The 171st Unsecured Senior Debt Securities for retail investors with inter-bond pari passu clause
This is the second transaction with the sponsor, the first being a pari passu equity.
26 /PRNewswire/ -- As an extension of their relationship with Paramount Pictures, Nicholas Meyer and Steven-Charles Jaffe and their Pari Passu Productions have entered into an agreement to develop and produce series and telefilms for the Network Television Division, it was announced today by John S.
7 million and is divided into four pari passu notes.
The series D preference ordinary shares would rank pari passu with XL's outstanding cumulative preferred shares, which are rated 'A-'.
The senior notes are ranked pari passu with existing senior unsecured debt.
Proceeds will be invested in junior subordinated notes that rank junior to certain other junior subordinated notes currently outstanding, but pari passu with junior subordinated notes issued in connection with other E-TruPS.
The loan has two pari passu components and a junior note held outside the trust.