agreement among underwriters takedown definition
Agreement among underwriters. A contract among participating members of a syndicate that defines the members' proportionate liability, which is usually limited to and based on the participants' level of involvement. The contract outlines the payment schedule on the settlement date. Compare: Underwriting agreement. 1 An underwriters agreement to assume all inventory risk and purchase all securities directly from the issuer for sale to the public at the price specified. 2  underwriters act as dealers and are responsible for any unsold inventory.  The dealer profits from the spread between the purchase price and the POP. agreement among underwriters. A contract signed by members of an underwriting syndicate that specifies the syndicate manager, additional managers, member liability, and life of the group. Compare underwriting agreement. agreement among underwriters. A contract between members of a syndicate, appointing the originating investment bank as the lead underwriter, defining the members' proportionate liability, and authorizing the manager to allocate units to a selling group. underwriting agreement. In addition to the terms defined in the Instructions or elsewhere in the Agreement, the following. terms shall be used in the Agreement as defined below: “Closing Date”means the date on which the Securities are purchased by the Underwriters as speci-. fied in or established pursuant to the Purchase Contract. Underwriters to the Issuer pursuant to the Purchase Contract. “Managers”means the Underwriter or Underwriters so designated as the Managers in the. Instructions, acting as such pursuant to the Agreement. “MSRB”means the Municipal Securities Rulemaking Board. 1 an advertisement allowed during the cooling off period that is simply an announcement of a new security for sale. 2  the only advertisement allowed during the cooling off period.  contain only the simple facts about the new issue ( the issuer, type of security, amount of shares or bonds available. 1 the portion of the takedown that's available for firms that arnt part of the syndicate or selling group.  Example: a customer wants to purchase a share of XYZ, but your not one of the financial distributors of the stock. You'd contact the syndicate manger, who'd give you a discount of the public offering price (POP). When referred to or incorporated by reference in the Agreement Among Underwriters, Instructions, Terms and Acceptance (the “Instructions”) governing the offer, sale and distribution of governmen-. tal securities, the following Master Standard Terms and Conditions shall, together with the. agreement among underwriters. A contract between members of a syndicate, appointing the originating investment bank as the lead underwriter, defining the members' proportionate liability, and authorizing the manager to allocate units to a selling group. 1  underwriting agreement.  freed up.
A contract among participating members of a syndicate that defines the members' proportionate liability, which is usually limited to and based on the participants' level of involvement.