Typically used in Development Finance, it is a charge levied by a lender to the borrower at the point of Loan Redemption. It is normally charged as a percentage of the Gross Loan, although some Lenders try to levy them against the site GDV (this is bad practice though, so do not accept this). It is different to an Early Repayment Charge as the Exit Fee is due at any time, regardless of when the loan is repaid.
