Jointly and severally

together and separately (joint obligation of several people that they are all together or totally separate)

Municipal bond underwriting where the account is undivided and syndicate members are responsible for unsold bonds in proportion to their participation regardless of how many bonds they may have already sold e.g. A firm with 20% of the account would be responsible for selling 20% of the unsold bonds even if had already sold 25% of the total debt issue. See: severally but not jointly.