Pari definition

Pari passu", as applied to the ranking of any obligation of a Person in relation to any other obligation of such Person, means in any bankruptcy, insolvency or receivership proceeding that each such obligation either (i) is not subordinated or junior in right of payment to any other obligation or (ii) is subordinate or junior in right of payment to the same obligations as is the other, and is so subordinate or junior to the same extent, and is not subordinate or junior in right of payment to each other or to any obligation as to which the other is not so subordinate or junior.
Pari passu”, as applied to the ranking of any Indebtedness of a Person in relation to other Indebtedness of such Person, means that each such Indebtedness either (a) is not subordinate in right of payment to any Indebtedness or (b) is subordinate in right of payment to the same Indebtedness as is the other, and is so subordinate to the same extent, and is not subordinate in right of payment to each other or to any Indebtedness as to which the other is not so subordinate.
Pari passu ranking Save as provided in Clause 22.17 (Ranking), its payment obligations under the Finance Documents to which it is a party rank at least pari passu with the claims of all its other unsecured and unsubordinated creditors, except for obligations mandatorily preferred by law applying to companies generally.

Examples of Pari in a sentence

  • Furthermore, Wipro PARI is also planning to foray into the consumer-packaged goods (CPG) segment targeting automation solutions in End of Line (EOL) packaging, palletisation and warehouse automation.

  • As a result, we must underline that the results of intra-sinus drug deposition for the PARI SINUS device cannot be representative of data obtained in vivo according to the producer specifications (17).

  • Thus, the PARI SINUS device was not used according to producer specifications (i.e. one nostril in, the other out).

  • However, as Wipro PARI is a prominent player in the Indian automation industry and has been dealing with the industry majors with diverse product offering within the sector including automation solutions for e-mobility segment where revenue sustainability is high and counterparty risk is low.

  • Any guests must be cleared ahead of time by PARI security and may be required to pass a background check before coming on the PARI site.


More Definitions of Pari

Pari passu Each Obligor shall ensure that at all times the claims of the Finance Parties against it under this Agreement rank at least pari passu with the claims of all of its other unsecured and unsubordinated creditors save those whose claims are preferred solely by any bankruptcy, insolvency, liquidation or other similar laws of general application.
Pari passu ranking The payment obligations of each of the Security Parties under the Security Documents to which it is a party rank at least pari passu with the claims of all its other unsecured and unsubordinated creditors, except for obligations mandatorily preferred by law applying to companies incorporated in the relevant Security Party’s country of incorporation or otherwise applicable to that Security Party.
Pari means PARI Pharma GmbH.
Pari means Petro Andina Resources Inc.;
Pari means PARI GmbH.
Pari passu: except as preferences and priorities are created in favour of, and allocated among the Banks and the Noteholders pursuant to the Intercreditor Agreement, the Common Security Trust Deed and the Security Documents, ensure that (a) its obligations under this Agreement shall, without prejudice to the provisions of clause 12.2, at all times rank at least pari passu with all its other present and future unsecured and unsubordinated Indebtedness with the exception of any obligations which are mandatorily preferred by law and not by contract, and (b) the Security Documents will have at all time first ranking priority, and will not be subject at any time to any prior ranking or pari passu ranking Encumbrances other than Permitted Encumbrances (except as specifically stated in the Security Memorandum);
Pari passu The obligations of the Borrower under this Agreement are direct, general and unconditional obligations of the Borrower and rank at least pari passu with all other present and future unsecured and unsubordinated indebtedness of the Borrower with the exception of any obligations which are mandatorily preferred by law and not by contract.