pari passu
Definition
Equal in all respects, at the same pace or rate, in the same degree or proportion, or enjoying the same rights without bias or preference. If a new issue of shares (stock) is said to rank pari passu with the existing shares, then the rights associated with both issues are exactly the same. Latin for, with equal steps.
pari passu is in the Corporate, Commercial, & General Law subject.
pari passu appears in the definitions of the following terms: Fisher effect and prime rate loan
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