Standby Agreement. An agreement between the issuer of a security and its underwriters stating that the underwriters are responsible for any unsold portion of the issue. That is, the underwriters agree to buy the remainder of a new issue if they are unable to place its entirety with investors.
A sponge has water flow in through the pores. The water contains the food and oxygen the sponge needs. Respiration. A sponge takes in water through its pores and in more advanced forms, with canals that move the water to all throughout the sponge.
The scientific term for sponges is Porifera, which literally means pore-bearing. The surface of a sea sponge is made up of thousands of tiny pores, called ostia. These pores lead internally to a system of canals, whose main functions are collecting nutrients and oxygen, and disposing waste and carbon dioxide. sea sponge's body primarily consists of spicules and spongin. Spicules are needle shaped fiberlike structures that act as the sponge's skeleton. Spongin is a protein that helps provide body support. In some instances the spongin will combine with the spicules to provied support, in other times the spongin works alone.