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.
Porifera Circulatory System. Sponges have no real circulatory system.Sponges have flagellated cells over the surface of their bodies, these are cells that have tails that wiggles. The collective effort of all these cells creates a water current through the many porous openings in the sponges body.