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Pari-passu; Two securities or obligations having equal rights to payment. ... Explain pari passu ... Pari passu basis...
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dictionary.reference.com/browse/pari-passu
dictionary.reference.com/browse/pari-passu
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Two securities or obligations having equal rights to payment.
http://www.investopedia.com/terms/p/pari-passu.asp
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If the practical significance of maintaining a debt’s pari passu ranking is most apparent in the event of a bankruptcy of the borrower, why is the clause also routinely included in debt instruments for sovereign borrowers -- entities that are not subject to domestic bankruptcy laws, their own or anyone else’s?
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www.law.georgetown.edu/international/documents/Pam.pdf
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adv.; At an equal pace; side by side: inflation and interest rates increasing pari passu.; ... Wordsmith Words: pari passu ... What is ranking charge pari passu charge 1st charge and 2nd charge? Read answer...
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www.answers.com/topic/pari-passu
www.answers.com/topic/pari-passu
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The phrase is used to indicate simultaneous and equal change or to describe similar ranking of securities or lenders; for example, when a new issue of shares is made, they could be said to rank pari passu, ie, equally with existing shares for the purposes of dividend payments.
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www.anz.com/edna/dictionary.asp?action=content&content=...
www.anz.com/edna/dictionary.asp?action=content&content=pari_passu
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The following sentence, called a pari passu clause, appears in every bond contract under which countries today issue debt: "The obligations of the Guarantor hereunder do rank and will rank at least pari ... This shift from priority of ranking to pro rata payment has sent shock waves throughout the sovereign debt world.
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www.allacademic.com/meta/p17431_index.html
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2.2 Sample pari passu clauses In preparing this report, the Working Group has conducted a survey of the pari passu clauses contained in a number of public sovereign bonds issued during the period beginning on 1st January, 1999 and ending on ... Until recently, the ranking interpretation was the only interpretation and,
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www.fmlc.org/papers/fmlc79mar_2005.pdf
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Refers to the equal ranking of securities. ... 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.
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financial-dictionary.thefreedictionary.com/pari+passu
financial-dictionary.thefreedictionary.com/pari+passu
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Top Page > Media Relations > 2001 > June 6, 2001 NTT DATA Corporation's 17th Issue of Unsecured Bonds -Ranking Pari Passu Solely with Other Series of Debentures or Bonds...
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www.nttdata.co.jp/en/media/2001/060600.html
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