What is the meaning of Lock-out?

With PAC bond CMO classes, the period before the PAC sinking fund becomes effective. With multifamily loans, the period of time during which prepayment is prohibited.

Barry Goldsmith
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APABarry Goldsmith. (2010). lock-out. Retrieved September 20, 2026, from http://smartdefine.org/lock-out/definitions/1157485
ChicagoBarry Goldsmith. 2010. "lock-out" http://smartdefine.org/lock-out/definitions/1157485 (accessed September 20, 2026).
HarvardBarry Goldsmith 2010, lock-out, Smart Define, viewed 20 September, 2026, <http://smartdefine.org/lock-out/definitions/1157485>.
MLABarry Goldsmith. "lock-out" 21 October 2010. Web. 20 September 2026. <http://smartdefine.org/lock-out/definitions/1157485>