A Permanent Take-Out Commitment Is

question 33

Multiple Choice

A permanent take-out commitment is:

• A)A way to increase NOI for projects with large debt service obligations
• B)An agreement by a lender to provide permanent financing for a property once construction is complete,provided all of the contingencies have been met.
• C)Another term for a construction loan
• D)The same thing as an acquisition and development loan

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Definitions:

Gametophyte

The sexual phase in the life cycle of plants and algae that produces gametes, or sex cells.

Liverworts

Non-vascular plants belonging to the division Marchantiophyta, characterized by flat, leaf-like structures on their surface and found in moist, shaded environments.

Thallus

(Pl., thalli) The simple body of an alga, fungus, or nonvascular plant that lacks roots, stems, or leaves (e.g., a liverwort thallus or a lichen thallus).

Archegonia

The female reproductive organ in ferns, mosses, and some gymnosperms, where the egg cell is produced and fertilization occurs.