index coverage (insurance)

Burton's Legal Thesaurus. . 2006

An agreement to take up securities which third parties do not wish to acquire. Thus, for example, an underwriter such as a merchant bank that underwrites a rights issue agrees to subscribe for shares for which the company's shareholders do not wish to subscribe. Most large share issues and offers by listed companies are underwritten.
Related links

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

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