pari passu

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pa·ri pas·su

 (păr′ē păs′o͞o, păr′ī, pär′ē)
adv.
At an equal pace; side by side: inflation and interest rates increasing pari passu.

[Latin parī passū : parī, ablative of pār, equal + passū, ablative of passus, step.]

pari passu

(ˌpærɪ ˈpæsuː; ˈpɑːrɪ)
adv
(Law) usually 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

pari passu

A Latin phrase meaning equal step, used to mean with equal speed.
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Adv.1.pari passu - used in legal language
Translations

pari passu

[ˈpærɪˈpæsuː] ADVa ritmo parecido, al igual
pari passu witha ritmo parecido al de, al igual que

pari passu

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References in periodicals archive ?
The purpose of the consent solicitation is to amend the indenture which governs the notes, dated 15 November 2010, to revise the definition of 'Contribution Debt' to allow the company to incur, as a result of its prior issuance of convertible preferred stock, up to USD150m of additional indebtedness that has the same maturity and is secured equally and ratably with the existing notes, as Contribution Debt, while eliminating the ability of the company to incur any further pari-passu obligations as 'Permitted Debt' under clause (b)(1) of the limitation on debt and disqualified stock covenant of the indenture.
The whole loan comprises six pari-passu A-notes, of which only the A-4 note is included in this transaction.
Under the indenture, the company is currently permitted to incur additional pari-passu obligations secured by liens on the collateral securing the notes under two baskets.
Two of the four pari-passu notes totaling $60 million serve as collateral for this transaction.
With this, the majority of the company's debt will be allocated at the holding company level and rank pari-passu to subsidiaries' unsecured obligations, eliminating structural subordination.