The point at corner exit where you allow the car to drift out to the edge of the track, using all available road surface. A good track-out lets you unwind the steering wheel and get back to full throttle sooner.
Bentley defines it in Ultimate Speed Secrets: "The exit of the corner is the section where you are unwinding the steering, increasing the radius of the line the car is following. Typically, it is from the apex to the exit or track-out point of the corner. The exit phase is also defined as when you begin squeezing the throttle down to wide open." In Speed Secrets, he quantifies the cost of not using full track width: "By keeping the car even one foot away from the edge of the track at turn-in and exit, you reduce the corner's radius significantly. In this example, the corner radius is reduced by 3 feet, meaning the theoretical maximum speed is reduced by more than a half mile per hour. That may not sound like much, but if you do that at every corner it will probably cost you a few tenths of a second." His diagnostic rule: "if you are doing anything with the steering wheel other than unwinding it after the apex, you are probably on the wrong line."