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.
A fund to which the issuer or the conduit borrower periodically makes payments or in which revenues from a project are periodically deposited for purposes of paying the debt service on a bond issue.