1894 Brewer’s / E / Exeat (Latin, he may go out)
Permission granted by a bishop to a priest to leave his diocese. In the universities, it is permission to a student to leave college before end of term. Sometimes permission is granted to leave college after the gates are closed.
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Entry taken from Dictionary of Phrase and Fable, edited by the Rev. E. Cobham Brewer, LL.D. and revised in 1895.