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A more thorough explanation: Pari passu is a Latin term that means "by equal step. Pro Rata and Pari Passu Basis means (i) with respect to the Participations, the allocation of any particular payment, collection, cost, expense, liability or other amount among the Participations on a pro rata basis in accordance with the respective unpaid principal balances of the Participations, without any priority of. $328. Pari Passu screams luxe, sophistication, and understated style. In real estate, the pari passu definition often describes how investors collect payouts. Jackets & Blazers. com. Discover our 159 Practice Notes on Pari passu. Currently, Pari. It’s a widely used legal term that has applications in corporate finance and personal finance that indicates fairness in the distribution of something. How to say pari passu. 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