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Jointly and Severally |
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Jointly and severally Municipal bond underwriting in which the account is undivided and syndicate members are responsible for unsold bonds in proportion to their participation, regardless of how many bonds they may have already sold. A firm with 20% of the account is responsible for selling 20% of the unsold bonds even if has already sold 25% of the total debt issue, for example. See: Severally but not jointly.
Jointly and Severally Relating to an agreement between the issuer of a new security and its underwriting syndicates mandating that the underwriters are responsible for any unsold portion of the issue in proportion to their participation in the issue, even if they sold their initially agreed upon participations. For instance, suppose an underwriting firm is responsible for placing 15% of an issue and does so. If the entire issue is not placed, the firm is still responsible for placing 15% of the unsold portion of the issue. This process continues until the entire issues is sold or the remainder cancelled. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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| You could, therefore, become jointly and severally liable for the debts of your co-owner even though they do not relate to the mortgage of the property. In many cases the joint tortfeasors are jointly and severally liable for the damages, meaning that any of them can be responsible to pay the In many cases the joint tortfeasors are jointly and severally liable for the damages, meaning that any of them can be responsible to pay the |
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