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take-out commitment |
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Take-Out Commitment An agreement by a financial institution or another investor to make a long-term loan at a certain, stated date in the future. A take-out commitment may be made in construction or other projects when short-term financing is initially beneficial but the borrower anticipates long-term financing to become more advantageous at a later time. take-out commitment A binding agreement by a lender to provide permanent financing at the expiration of the construction financing, if certain conditions have been met.These usually include minimum occupancy levels for an income-producing property. Want to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit the webmaster's page for free fun content. |
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