What does pari passu means?
on equal footing
Pari passu is a Latin phrase that literally means “with an equal step” or “on equal footing”. It is sometimes translated as “ranking equally”, “hand-in-hand”, “with equal force”, or “moving together”, and by extension, “fairly”, “without partiality”.
How do you use pari passu in a sentence?
used in legal language.
- There three cars made a pari passu advance.
- Inflation and interest rates are increasing pari passu.
- Liberty and law advance pari passu.
- The new share will rank pari passu with the existing one.
- All the new shares rank pari passu with the existing shares in all respects.
What is pari passu India?
It is a principle which means all unsecured creditors in insolvency processes, such as administration, liquidation, and bankruptcy must share equally any available assets of the company or individual, or any proceeds from the sale of any of those assets, in proportion to the debts due to each creditor.
What is Peri Persu?
Pari-passu is a Latin phrase meaning “equal footing.” In finance, “equal footing” means that two or more parties to a financial contract or claim are all treated the same.
What is rank pari passu?
Pari-passu is a Latin term that means “ranking equally and without preference.” Applied in a legal context, pari-passu means that multiple parties to a contract, claim, or obligation are treated the same, “ranking equally and without preference.”
What does Pari mean?
equal or equally; even (in number)parisyllabic; paripinnate.
Is pari passu Latin?
Pari-passu is a Latin phrase meaning “equal footing” that describes situations where two or more assets, securities, creditors, or obligations are equally managed without preference.
What is parity debt?
Parity Debt means any debt obligations issued that are on an equal commercial lien position with this Loan.
What is the meaning of pari passu?
Pari Passu. Each Obligor shall ensure that its obligations under the Finance Documents rank at all times at least pari passu in right of priority and payment with the claims of all its other unsecured and unsubordinated creditors, except for obligations mandatorily preferred by law applying to companies generally.
What does pari passu mean in Startup Law?
Startup Law ResourcesVenture Capital, Financing. Pari passu is a Latin phrase lawyers use that means treating all parties the same for something. For example, when a company issues common stock the shareholders are pari passu to each other because none of them has more rights and obligations than the others.
Are the shares of a bank pari passu?
In that sense, the shares are pari-passu. Pari-passu can apply to common stock shares, for example, so that each shareholder has equal rights to claims for dividends, voting rights, and the liquidation of assets. However, pari-passu does not apply to creditors such as banks.
What is a pari-passu lending agreement?
Pari-passu is a Latin term that means “ranking equally and without preference.” Applied in a legal context, pari-passu means that multiple parties to a contract, claim, or obligation are treated the same, “ranking equally and without preference.” The term pari-passu is popular in the lending and credit space.
