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.
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back out — ► back out withdraw from a commitment. Main Entry: ↑back … English terms dictionary
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
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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 — 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
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
Back-to-the-land movement — The phrase back to the land movement refers to a North American social phenomenon of the 1960s and 1970s. This particular back to the land movement was a migration from cities to rural areas that took place in the United States, its greatest… … Wikipedia