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Asked in Loans, Mortgages, Home Equity and Refinancing
What is the difference between first pari passu charge and second pari passu charge?
In law, the difference between the first pari passu charge and second pari passu charge is the that the first charge means it is a simultaneous charge in favor of more than one person or lender and equal in all respects. The second charge would is subordinate to the first and is in favor of the previous person or lender. ...
What is mean by 2nd pari passu charge?
Parri Passu charge in terms of finance is equal charge on borrower, especially incase of default/bankruptcy Parri Passu charge in terms of finance is equal charge on borrower, especially incase of default/bankruptcy ...
How does a business owner and fear of business owners goes pari-passu?
Yes the business owner and fear of business owener goes on
What is the meaning of pari passu charge?
Pari Passu is a term used in banking transactions which means that the charge to be created is in continuation of an earlier charge which might be held by the same institution or by an other institution. What is meant by Parri Passu Charge? Parri Passu is derived from Latin for 'with equal progress'. The phrase is used to indicate simultaneous and equal change or to describe similar ranking of securities or lenders; for example, when a new issue of shares is made,...
Can company issue debenture with pari passu clause?
YES, a company can issue its debentures with a pari passu clause when they are issued in series. This implies that the debentures shall be paid proportionately. This assumes an added advantage when the company is short of cash & does not have the amount to make payment for debentures.In such case, all the debentures held by a creditor of the company ranked equal as regard charge and repayment with the others of that series. However, a company cannot give this right...
Asked in Latin to English
What is para persu in latin?
Pari passu is a Latin phrase that literally means "with an equal step" or "on equal footing." It is used to indicate all parties in something are ctreated equally according to their position or stocks held, equity, rights, or interest level. ...
Asked in Loans, Mortgages, Hindi Language and Culture
Difference between pari passu and hypothecation?
Hypothecation is a kind of non-possessory security interest created normally in favour of a lender for securing the obligation of the person who has availed any financial assistance from the Bank. If the borrower creates security interest on the same set of property in favour of more lenders, the security interest of the lenders shall rank according to the chronological order in which it is created, unless the lenders otherwise agree. If the value of the security is sufficient to cover all...