take-out commitment (redirected fromTake Out Commitments) An agreement by afinancial institutionor anotherinvestorto make a long-termloanat a certain, stated date in the future. A take-out commitment may be made in construction or other projects when short-termfinancingis initially beneficial but ...
take out 1.Extract, remove, as inHe should take out that splinter: [c. 1300] 2.Secure by applying to an authority, as inShe took out a real estate license. [Late 1600s] 3.Escort on a date, as inHe's been taking out a different girl every night of the week. [c. 1600] ...
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Seller shall provide theTakeout Funding Advicewith respect to each Mortgage Loan or Mortgage Security to MBF no later than 11:00a.m. (Central Time) on the scheduled date of the related Takeout Funding. Seller shall provide to Buyer a photocopy of theTakeout Funding Advicewith respect to eac...
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Takeout lenders allow construction companies to pay off short-term construction loans. Let's say a real estate developer named Acme Development wants to build an apartment complex on a piece of land it purchased in a really great location. The developer takes out a construction loan for $10 ...
The new loan allows XYZ to make monthly payments over 15 years at an interest rate that is half of that of the short-term loan. With the take-out loan, it can repay its short-term loan six months early, saving on interest costs. XYZ now has 15 years to pay its new take-out loan...