pari passu
The term "pari passu" is a Latin phrase often used in legal and financial contexts to indicate equal treatment or status.
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Definition
C1Finance
(technical)Describes the equal treatment of creditors or investors, ensuring they receive payments at the same time and rate.
Example
- The bonds were issued pari passu, so all investors received their payments simultaneously.
C1Law
(technical)Indicates that multiple parties have equal ranking or claims without preference.
Example
- In the event of liquidation, all unsecured creditors will be treated pari passu.
Similar
Terms that have similar or relatively close meanings to "pari passu":
on equal termsin pari materiashare and share alikeeven upin parallelad eundem