noun
a provision or exception in a contract or agreement that allows for certain terms to be excluded or separated from the rest of the document
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The carve-out provision in the contract allows for certain assets to be excluded from the sale.
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Hey, did you hear about the carve-out in the deal? They're keeping the office building separate.
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I heard they're doing a carve-out of the tech division to focus on their core business.
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Sometimes you have to carve-out time for yourself in order to avoid burnout.