pari passu
Definition
Often seen in venture capital term sheets, indicating that one series of equity will have the same rights and privileges as another series of equity. ('of equal step' in latin)
Use pari passu in a sentence
“ You should try to make sure that when you are keeping your term sheets that you know how to use pari passu. ”
“ The portfolio included a pari passu arrangement which dictated the order or classification of importance of the securities to be equal. ”
“ For many people in the world, others regardless of race, gender, religion and etcetera are pari passu; unfortunately, there are individuals that do not feel the same way. ”
