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ablösen

English translation: redeem (a loan)

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)

German term or phrase:	ablösen
English translation:	redeem (a loan)
Entered by:	FishX

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12:36 Jan 10, 2012

German to English translations [PRO]
Bus/Financial - Insurance

German term or phrase: ablösen

Die Kreditgeber verpflichten sich untereinander, die Kredite gem. § 1 für die Dauer dieses Vertrages aufrechtzuerhalten und Reduzierungen oder Streichungen nur in gegenseitigem Einvernehmen vorzunehmen. Dies gilt nicht für außerhalb des Pools gewährte Kredite. Vor einer beabsichtigten Kündigung solcher Kredite ist jedoch der andere Kreditgeber zu informieren. Zugleich ist ihm Gelegenheit zu geben, diese Kredite abzulösen.

This is from a security pooling agreement. The last sentence is causing a problem - it doesn't seem to make sense. What 'diese Kredite' refer to and what does ablosen mean exactly? Thanks for any suggestions.

FishX KudoZ activity Questions: 614 (none open) (12 without valid answers) (43 closed without grading) Answers: 957 Poland
Local time: 10:33

redeem (a loan)

Explanation:
redeem = pay off (loans)

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Note added at 27 Min. (2012-01-10 13:04:08 GMT)
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possible also through refinacing /borrowing money somewhere else to pay off this loan

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Note added at 1 Stunde (2012-01-10 14:25:07 GMT)
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borrowing money from somewhere else
seems better