BOUNCED CHECK is a check written for an amount exceeding the checking account balance that is subsequently rejected for payment due to insufficient funds.
PARI PASSU is to do or apply something at an equal pace or rate. In finance, it is used in reference to two classes of securities or obligations that have equal entitlement to payment.
EXERCISE, in business or law, to make use of a right available in a legally binding agreement, e.g. to implement the right of the holder of an option to buy (in the case of a call) or sell (in the case of a put) the underlying security.
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