- Back-to-Back Commitment
- A commitment to make a second take-out loan that piggybacks another loan. With a back-to-back commitment, once the terms of the first loan are satisfied, it will be rolled into the second loan.
The best example of a back-to-back commitment is when a bank makes a construction loan to build a house. Once the house has been built and a certificate of occupancy issued, the bank will make a new loan, probably a first mortgage loan, to take out the construction loan. The bank's commitment will specify the conditions that must be met in order for the commitment to fund the second loan to be valid.
Investment dictionary. Academic. 2012.
Look at other dictionaries:
go back on a commitment — index renege Burton s Legal Thesaurus. William C. Burton. 2006 … Law dictionary
back — back1 W1S1 [bæk] adv ▬▬▬▬▬▬▬ 1¦(return to place)¦ 2¦(as before)¦ 3¦(previous place)¦ 4¦(backwards)¦ 5¦(reply/reaction)¦ 6¦(return something to somebody)¦ 7¦(in the past)¦ 8¦(again)¦ 9 sit/lie/lean back 10¦(away)¦ … Dictionary of contemporary English
back out — verb 1. move out of a space backwards (Freq. 2) He backed out of the driveway • Hypernyms: ↑back • Verb Frames: Somebody s Somebody s PP 2. make a retreat from an earlier commitment or activity … Useful english dictionary
back — n., adv., v., & adj. n. 1 a the rear surface of the human body from the shoulders to the hips. b the corresponding upper surface of an animal s body. c the spine (fell and broke his back). d the keel of a ship. 2 a any surface regarded as… … Useful english dictionary
back down — verb 1. move backwards from a certain position (Freq. 2) The bully had to back down • Syn: ↑back up, ↑back off • Derivationally related forms: ↑backdown • Hypernyms: ↑ … Useful english dictionary
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back out — ► back out withdraw from a commitment. Main Entry: ↑back … English terms dictionary
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back — noun 1》 the rear surface of the human body from the shoulders to the hips. ↘the corresponding upper surface of an animal s body. ↘the spine. ↘the main structure of a ship s hull or an aircraft s fuselage. 2》 the side or part of… … English new terms dictionary