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.
Their bodies consist of skeletons made of a soft material called spongin, and a leathery skin broken by pores. The sponge eats by pumping seawater in through its pores. It filters microscopic plants from the water, and expels the excess water through one or more large holes called oscula. A rough sponge used for washing a car, for instance, is made with coarse crystals, while a fine sponge of the type used for applying makeup is made with very fine crystals. 2  As the celluolose mix cooks, then cools, it becomes a hard, porous block. 3  The sponge block is then soaked in a vat of bleach.