A buyback clause is a stipulation in a contract or agreement that allows a party to repurchase something they previously sold or transferred. Full definition
When Fannie or Freddie purchase mortgages from loan originators and lenders, they insert buyback clauses in the contracts that stipulate if the mortgage defaults and turns out to be inadequately underwritten or documented, the originator or lender can be forced to repurchase the mortgage. (totalmortgage.com)
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The Blaugrana will reportedly activate the # 10.5 m buyback clause in the player's Toffees contract — which is going to expire in 12 months time. (footytransfer.com)