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.
Sponges, or poriferans, reproduce both sexually and asexually. Asexually, reproduction is achieved by way of budding, which is a process in which new sponges grow out of adult sponges. It may also be achieved asexually by fragmentation, in which a detached piece of an adult sponge develops into a new organism.