Pari Passu
Latin, meaning “without partiality” or “of equal step.” In both equity and debt security documents, this term refers to either securities or obligations that have equal rights to payment if a Bankruptcy were to occur.
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Latin, meaning “without partiality” or “of equal step.” In both equity and debt security documents, this term refers to either securities or obligations that have equal rights to payment if a Bankruptcy were to occur.