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 ?
Part II frames the inquiry: Does the celebrated dispute over the meaning of the pari passu clause provide evidence that the current means of revising black holes impose large and uncompensated social costs?
risk that Venezuela's pari passu clauses might be interpreted in
Fujitsu Limited Twenty-Seventh Series Unsecured Straight Bonds (with inter-bond pari passu clause) 1.
do rank and will rank pari passu in priority of payment with all other
When issued, the shares will rank pari passu with the existing ordinary shares.
The shares rank pari passu with HSBC existing issued ordinary shares and will be paid on October 7, 2009.
The company is capable of going anywhere in the capital structure--from senior financing to pari passu equity--and will entertain all asset types and geographical locations.
Tokyo, Japan, Aug 25, 2006 - (JCN Newswire) - Sanix Incorporated (Ticker: 4651, TSE/OSE/FSE, President & CEO: Shin-ichi Munemasa) announced that Unsecured Convertible Bonds with Stock Acquisition Rights (Limited Inter-Bond Pari Passu Clause) issued (total issue value of 3 billion yen) on January 30, 2006 were fully converted as of August 25, 2006.
This has invariably meant that his reputation as 'a born soldier and a military genius' has suffered pari passu. This comprehensive and balanced study of Cromwell 'as a military figure', the first since T.S.
Under our Bank Rating Criteria, we equalise the ratings of senior non-preferred and pari passu legacy senior unsecured debt with the banks' respective Issuer Default Ratings (IDRs).
London-based White & Case partner Francis Fitzherbert-Brockholes, who led the team which advised the banks, said: "Kazakhstan's issue is significant not only because of its rarity but also because it is the first sovereign issue to use the collective action and pari passu clauses recommended in August by ICMA.