Parity Debt
Two or more issues of bonds with the same priority of claim or lien on the same underlying security and sources of repayment (i.e., revenues) for all of the bonds.
bond-basics
Senior Lien Bonds
Bonds having a priority claim on one or more Security Interests relative to the claim against such Security Interests by the holders of other Bonds.
See Also
Start with the Bond Basics
Hundreds of Terms and Concepts
Acceleration
A remedy sometimes available under an Indenture, Bond Resolution or other financing document which permits the Trustee or bondholder to declare all future payments of Principal immediately due and payable after the occurrence of certain specified Events of Default.