pari passu

[ pah-ree pahs-soo; English pair-ahy pas-oo, pair-ee ]

adverb

, Latin.

1. with equal pace or progress; side by side.
2. without partiality; equably; fairly.

pari passu

/ ˈpɑːrɪ; ˌpærɪ ˈpæsuː /

adverb

1. law with equal speed or progress; equably: often used to refer to the right of creditors to receive assets from the same source without one taking precedence

Example Sentences

The investor said the AT1 bonds were pari passu, in other words ranking at the same level, with the reference bond underlying the CDS contracts, which included a subordinated bond that matured in 2020.

From Reuters

The loans are either senior to or pari passu with a companies’ existing debt, and benefit from government protection.

From Reuters

If the deal with Elliott and the other main holdouts is closed, it would leave more than 85 percent of the "pari passu" and "me-too" injunctions resolved.

From Reuters

The second set who have not sued to collect on their bonds but instead sued to enforce the pari passu clause, have been offered up to 72.5 percent of their claims.

From New York Times

So, there are no lawyer nasty-grams over such things as negative pledge or pari passu clauses in a sovereign’s bonds before the default.

From Forbes