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Severally but not jointly
Definition 1
A Type of agreement that establishes the responsibility for selling the securities in an underwriting. Members of the Underwriting group agree to Buy a certain amount of the New issue severally but do not agree to Joint liability for shares unsold by other members of the group.
Definition 2
More generally, when members of a group agree to certain obligations individually, but do not Share responsibility for the obligations of other members of the group.
Related Terms: 16
Buy , ECU , FIN , Joint , Liability , New issue , NSO , Obligation , Rally , SEC , Sell , Share , Sue , Type , Underwriting , Underwriting group
Semi Related Terms: 492 CLICK HERE TO VIEW
12b-1 funds ,
Allowance for depreciation ,
Accrual of discount ,
Amortization of premium ,
At par ,
ABC agreement ,
Affirmative obligations ,
Allied member ,
All or any part ,
Associate member ,
At best ,
At call ,
American Depositary Share ,
All-risks coverage ,
At risk ,
Add-on service ,
Abstract of title ,
Action to quiet title ,
As is ,
Assignment to creditors ,
Attorney in fact ,
Assignment of mortgage ,
A shares ,
Assets under management ,
Average price per share ,
At the money ,
Across the board ,
Additional paid-in capital ,
Average up ,
Amount recognized ,
Against the box ,
At the bell ,
At the close ,
At the figure ,
At the full ,
At the market ,
At the opening order ,
Away from the market ,
Below the line ,
Books of final entry ,
Books of original entry ,
Book value per share ,
Banking Act of 1933 ,
Bid-to-cover ratio ,
Bureau of Public Debt ,
Buy ,
Brought over the wall ,
Buying on margin ,
Buy limit order ,
Buy minus ,
Buy minus order ,
Buy on close ,
Buy on opening ,
Buy order ,
Buy stop order ,
Buy the book ,
Basic earnings per share ,
Balance of payments ,
Board of Governors ,
Breaking the syndicate ,
Bill of exchange ,
Bill of sale ,
Breach of trust ,
By the book ,
Bust-up takeover ,
B shares ,
Buy and write ,
Bearer share ,
Bonus share ,
Buy-side ,
Breadth-of-market theory ,
Beat the gun ,
Capital liability ,
Cost Of Goods Sold ,
Cost of sales ,
Certificate of Participation ,
Collateralized Bond Obligation ,
Collateralized Mortgage Obligation ,
Collaterized Loan Obligation ,
Committee on Uniform Securities Identification Procedures ,
Current issue ,
Clearing member ,
Code of procedure ,
Capitalization of income ,
Cost of Living Adjustment ,
Cost-of-living index ,
Council of Economic Advisers ,
Chasing the market ,
Cheapest to deliver ,
Chicago Board of Trade ,
Cost-of-living rider ,
Certificate of stock ,
Cost of carry ,
Certificate of title ,
Confidentiality agreement ,
Contingent liability ,
Contract for deed ,
Cancellation of debt ,
Certificate of Claim ,
Cost of debt capital ,
Cost of funds ,
C shares ,
Class of options ,
Close to the money ,
Certificate of Occupancy ,
Cloud on title ,
Cash or Deferred Arrangement ,
Class A Shares ,
Class B Shares ,
Crash of 1929 ,
Crash of 1987 ,
Coefficient of determination ,
Certificate of delivery ,
Close a position ,
Cornering the market ,
Curbs in ,
Deposit in transit ,
Date of issue ,
Date of payment ,
Drawn securities ,
Dual currency bond ,
Dual listing ,
Division of Enforcement ,
Division of Investment Management ,
Division of Market Regulation ,
Do Not Reduce ,
Date of record ,
Dividend in arrears ,
Desk (the) ,
Division of labor ,
Dual life insurance ,
Directed share program ,
De-escalation clause ,
De facto ,
Durable Power of Attorney ,
Date of maturity ,
Debtor in possession ,
Debtor-in-possession financing ,
Deed of Release ,
Deed of Trust ,
Discharge of bankruptcy ,
Discharge of lien ,
Due-on-sale clause ,
Dual-purpose fund ,
Deep in the money ,
Deep out of the money ,
Deed of Surrender ,
Department of Housing and Urban Development ,
Dogs of the Dow ,
Double up ,
Depth of market ,
Eurodollar certificate of deposit ,
Escrowed to maturity ,
Either-or order ,
ECU ,
E-mini ,
Exchange for futures ,
Exchange for physical ,
Exchange of spot ,
Employee stock repurchase agreement ,
Ex-all ,
Express agreement ,
Employee Retirement Income Security Act of 1974 ,
Even up ,
First In First Out ,
Face-amount certificate ,
Flight to quality ,
Flow of funds ,
Fill or kill ,
Front-ending an order ,
Fractional share ,
Forward P/E ,
Fully diluted earnings per share ,
Factors of production ,
Favorable balance of trade ,
Face amount ,
Fee-for-service ,
Form S-1 ,
Fully distributed issue ,
Forward Rate Agreement ,
Family of funds ,
Fund of funds ,
Free right of exchange ,
Federal ID Number ,
FIN ,
Generally Accepted Accounting Principles ,
General Obligation Bond ,
Government securities ,
Government Securities Clearing Corporation ,
General account ,
General Securities Representative Examination ,
G-7 ,
General Accounting Office ,
General Agreement on Tariffs and Trade ,
G-8 ,
Group insurance ,
Group sale ,
General lien ,
General mortgage ,
Group IRA ,
Gather in the stops ,
Hart-Scott-Rodino Act of 1976 ,
Hit the bid ,
House of issue ,
Hypothecation agreement ,
Hot issue ,
Holder in due course ,
Home equity line of credit ,
HUD-1 statement ,
Hammering the market ,
Held at the opening ,
Holding the market ,
In escrow ,
International Securities Identification Number ,
Issue date ,
In-house ,
Investment Advisor Act of 1940 ,
Investment banking group ,
Investment Company Act of 1940 ,
In line ,
Individual policy pension trust ,
Identified shares ,
Insider Trading sanctions Act of 1984 ,
Internal Rate of Return ,
Indication of interest ,
In intestacy ,
In play ,
In-process research and development ,
Institutional shares ,
I/O strip ,
In-service withdrawal ,
Individual tax return ,
Imbalance of orders ,
In and out ,
Individual investor ,
In sympathy ,
In the tank ,
Joint account ,
Jointly and severally ,
Jumping the gun ,
Joint ,
Joint venture ,
Joint will ,
Joint and several liability ,
Joint mortgage ,
Joint ownership ,
Joint and survivor annuity ,
Joint life annuity ,
Joint Stock Company ,
Joint return ,
Joint tax return ,
Last In First Out ,
Liability ,
Lender of last resort ,
Law of one price ,
Lending at a rate ,
Lessee member ,
Limit-on-close order ,
Law of demand ,
Law of supply ,
Limit up ,
Long-Term Equity Anticipation Securities ,
Letter of comment ,
Line of credit ,
Loan-to-cost ,
Loan-to-value ,
Lock-in ,
Lease-purchase agreement ,
Leading the market ,
Limited Liability Company ,
Locked in ,
Long-term gain or loss ,
Level I quotes ,
Member bank ,
Moral obligation bond ,
Make a market ,
Margin agreement ,
Market on close order ,
Mark-to-market ,
Member firm ,
Medium of exchange ,
Marginal propensity to consume ,
Money at call ,
Marketable securities ,
Market-share weighted index ,
Negotiable certificate of deposit ,
Negotiable Order of Withdrawal ,
New York Stock Exchange ,
Notice of Sale ,
National Association of Securities Dealers ,
National Association of Securities Dealers Automated Quotations system ,
National Securities Clearing Corporation ,
National Securities Trade Association ,
No limit order ,
No quote ,
New York Futures Exchange ,
No-Fault ,
Negotiated underwriting ,
New issue ,
No-Action Letter ,
Non-compete agreement ,
Non-disclosure agreement ,
No-lien affidavit ,
Notice of Default ,
Notional principal amount ,
No-load ,
NSO ,
National Association of Real Estate Investment Trusts ,
No-load stock ,
New high ,
No book ,
Off the books ,
Other current assets ,
Other long term liabilities ,
Office of Thrift Supervision ,
Obligation ,
Obligation bond ,
Original Issue Discount ,
Out-of-favor ,
Over-the-Counter ,
On-floor order ,
On margin ,
Or better ,
Other income ,
One-share one-vote rule ,
Original issue stock ,
Opinion of title ,
On account ,
On-the-spot loan ,
Out of the money ,
Occupancy agreement ,
Old age, survivors, and disability insurance ,
On-balance volume ,
Odd lot buy/sell ratio ,
On close ,
On open ,
On the opening ,
Pooling of interests ,
Payment-in-kind security ,
Price Value of a Basis Point ,
Payment for order flow ,
Public Securities Association ,
Preference shares ,
Preferred shares ,
P&L ,
Primary earnings per share ,
Provision for income taxes ,
Power of Attorney ,
Paid up ,
Principal amount ,
Prioritization of debt ,
Purchase agreement ,
Paid-in capital ,
Paid-in surplus ,
Percent held by institutions ,
Private Investment in Public Equity ,
Preservation of capital ,
Painting the tape ,
Qualifying share ,
Return of capital ,
Return on Capital ,
Return on Invested Capital ,
Return on Total Assets ,
Reading the tape ,
Regulation D ,
Regulation G ,
Regulation T ,
Regulation U ,
Round of funding ,
Rule 15c3-1 ,
Rules of Fair Practice ,
Rate of exchange ,
Reciprocal of European terms ,
Reduced paid-up insurance ,
Redeemable shares ,
Regulation A ,
Right of first refusal ,
Right of rescission ,
Right to Know ,
Revolving line of credit ,
Right of recourse ,
Rule of 78 ,
Roll up ,
Right of redemption ,
Retirement Equity Act of 1984 ,
Return on Capital Employed ,
Rally ,
Rate of return ,
Real rate of return ,
Repurchase agreement ,
Reverse repurchase agreement ,
SEC filing ,
Selling, General and Administrative Expenses ,
SG&A ,
Sight letter of credit ,
S&L ,
SEC ,
Securities and Exchange Commission ,
Sell ,
Selling flat ,
Series EE bond ,
Step-up bond ,
SEC fee ,
Securities analyst ,
Securities Industry Association ,
Securities Investor Protection Corporation ,
Securities loan ,
Segregation of securities ,
Selling group ,
Sell limit order ,
Sell order ,
Sell plus ,
Sell-side analyst ,
Sell the book ,
Syndicate member ,
Standard of living ,
Selling hedge ,
Second-to-die insurance ,
Share ,
Severally but not jointly ,
Statute of Limitations ,
Sue ,
Supplemental agreement ,
Satisfaction of debt ,
Securities lending ,
Share appreciation mortgage ,
Staggered board of directors ,
Selling the spread ,
Step-up warrant ,
Step-up lease ,
Savings Incentive Match Plan for Employees ,
Santa Claus rally ,
Share price ,
Selling short ,
Selling short against the box ,
Shorting against the box ,
S Corporation ,
Short-term gain or loss ,
Subchapter M ,
Subchapter S Corporation ,
Schedule C ,
Securities Act of 1933 ,
Securities Acts Amendments of 1975 ,
Securities Exchange Act of 1934 ,
Securities fraud ,
Seek a market ,
S&P phenomenon ,
T-Bill ,
Term to maturity ,
Take a position ,
Trailing P/E ,
Tenancy by the entirety ,
Truth in Lending ,
Type ,
Tenancy at will ,
Top hat plan ,
The Street ,
Timing the market ,
Taxpayer Relief Act of 1997 ,
Tax Reform Act of 1986 ,
Tax Reform Act of 1993 ,
Take a bath ,
U.S. Government Agency Security ,
U.S. Savings Bond ,
U.S. Treasury ,
U.S. Treasury Bill ,
U.S. Treasury Bond ,
U.S. Treasury Note ,
U.S. Treasury Securities ,
Unseasoned issue ,
Underwriting ,
Underwriting agreement ,
Underwriting group ,
Underwriting spread ,
Uniform Securities Act ,
Umbrella liability insurance ,
Uniform submission agreement ,
Up volume ,
Unit of trade ,
Unit of trading ,
Waiver of premium ,
W-2 Form ,
W formation ,
When, as, and if issued ,
When issued ,
X or XD ,
Year-To-Date ,
Yield to call ,
Yield to maturity ,
Yield to worst ,
Y shares ,
Z shares