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Cat-back (also cat back and catback) refers to the portion of the exhaust system from the outlet of the catalytic converter to the final vent to open air. This generally includes the pipe from the converter to the muffler, the muffler, and the final length of pipe to open air.
What is a 'Leaseback'. A leaseback is an arrangement where the seller of an asset leases back the same asset from the purchaser. In a leaseback arrangement, the specifics of the arrangement are made immediately after the sale of the asset, with the amount of the payments and the time period specified. Essentially, the seller of the asset becomes the lessee and the purchaser becomes the lessor in this arrangement.