pari passu

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Related to pari passu: mutatis mutandis

Pari passu

Refers to the equal ranking of securities.

Pari Passu

Describing securities or debts with equal claim on some right. A new issue of a security may be issued pari passu, which indicates that it carries the same rights as shares already issued. For example, common shares are all pari passu with respect to each other; this means that no one share has a prior claim to a dividend over any other. However, all common shares are junior to any preferred share, which is likewise pari passu with respect to other preferred shares.

pari passu

In equal portions. Used to describe distributions to creditors if they will each take a pro rata share of a debtor's assets.

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Lee Simchon, director of development for Pari Passu, will coordinate all television development activities.
The loan has two pari passu A notes, a junior note and a B note held outside the trust.
2 million portion of a pari passu loan with a total outstanding balance of $245.
The Placing Shares will rank pari passu in all respects with the existing Ordinary Shares which are currently traded on AIM.
The note is split into two equal pari passu pieces with the A-2 piece included in the trust.
There are a total of six pari passu notes, A-1 through A-6, with the A-3 and A-4 pieces included in the trust.
The loan has a pari passu floating rate component held outside the trust.
The notes rank pari passu with NTL Cable's outstanding dollar, sterling and euro notes due 2014.