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
Negative Pledge
A covenant that is the opposite of a pledge – a promise not to pledge property, generally money or other intangibles, to any party other than the issuer, a letter of credit provider or other intended beneficiary of the negative pledge.