Eastern Account
(Undivided)
Eastern account - each syndicate member is liable for unsold bonds equal to its participation.
Eastern Account
An underwriting account for a new issue of municipal securities whereby the underwriting group, as a whole, assumes financial responsibility for successful distribution of the issue--also called an "undivided account.
Undivided or Eastern Account - A method for determining liability stated in the agreement among underwriters in which each member of the underwriting syndicate is liable for any unsold portion of the issue according to each member's percentage ...
in which each underwriter in the group is responsible not only for selling its alloted amount of the new issue but also for selling any excess issue not sold by the underwriting group as a whole. This is also referred to as an "Eastern account", ...
 See also: Account, Share, Profit, Interest, New Issue
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