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Glossary > L > "Lock-out" Definition

Lock-out

With P.A.C. bond C.M.O. classes, the period before the P.A.C. sinking fund becomes effective. With multifamily loans, the period of time during which prepayment is prohibited.

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Lock-out - With P.A.C. bond C.M.O. classes, the period before the P.A.C. sinking fund becomes effective. With multifamily loans, the period of time during which prepayment is prohibited.

Lock-out : with p.a.c. bond c.m.o. classes, the period before the p.a.c. sinking fund becomes effective. with multifamily loans, the period of time during which prepayment is prohibited.