Definition of Pari passu covenant - Finance dictionary
Pari passu covenant((See Chapter 26 of the Vernimmen))
Pari passu covenants are clauses whereby the borrower agrees that the lender will benefit from any additional guarantees the borrower may give on future loans it raises.
Pari passu covenant((See Chapter 26 of the Vernimmen))
Pari passu covenants are clauses whereby the borrower agrees that the lender will benefit from any additional guarantees the borrower may give on future loans it raises.
Pari passu covenant((See Chapter 26 of the Vernimmen))
Pari passu covenants are clauses whereby the borrower agrees that the lender will benefit from any additional guarantees the borrower may give on future loans it raises.