Word of the Day for Sunday August 14, 2005 pari passu PAIR-ih-PASS-oo\, adverb: At an equal pace or rate. Expand the state and [its] destructive capacity necessarily expands too, pari passu. --Paul Johnson, [1]Modern Times: The World From the Twenties to the Eighties Independent hedge funds can sell their holdings in a stock all at once, but if a hedge fund is part of a mutual fund company, it generally must sell pari passu... with the company's mutual funds that hold the same stock, constraining flexibility. --Geraldine Fabrikant, "Should You Bristle at These Hedges?" [2]New York Times, November 8, 1998 _________________________________________________________ Pari passu literally means "with equal step," from Latin pari, ablative of par, "equal" + passu, ablative of passus, "step." References 1. http://www.amazon.com/exec/obidos/asin/0060935502/ref=nosim/lexico 2. http://www.nytimes.com/ Dictionary.com Entry and Pronunciation http://dictionary.reference.com/search?r=9&q=pari%20passu