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.
Bonds having a subordinate claim on one or more Security Interests relative to the claim against such Security Interests by the holders of other Bonds, also known as “junior lien bonds.”
See Also
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.
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.
Another name for a UCC form, filed in the state and/or county where the security for the repayment of the bonds is located or the transaction is taking place, which may be required to perfect a security interest in certain property and revenues.