Takeout commitment

Takeout commitment,

Definition of Takeout commitment:

  1. Written promise by a lender to provide a long-term financing (permanent financing) arrangement to replace an interim, short-term, or bridge loan, usually when a project reaches a specified milestone or stage. As a common practice, a takeout commitment must be in place before interim lenders agree to provide bridge loans. Also called takeout agreement or takeout loan.

Meaning of Takeout commitment & Takeout commitment Definition