closeout

noun

Etymology: Etymology tree English close outdeverb. English closeout Deverbal from close out.

1. A wave which breaks all at once, as opposed to breaking progressively along its length.

   “Dealing with closeouts is something every surfer should learn – especially if you live and surf in California.”

2. A sale in which all merchandise is sold, at whatever reduced price is necessary; especially, such a sale for the purpose of either dispensing with a discontinued product line or preparing to close down the store.

   “The Administration’s request of $12 million will allow TDA to conduct an orderly closeout of the agency beginning in 2018, which includes sufficient funding for personnel, rent, program, and other closeout costs.”