drop dead date


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drop dead date

n. a provision in a contract or a court order which sets the last date an event must take place (such as payment) or otherwise certain consequences will automatically follow, such as cancelling the contract, taking property or entering a judgment.

References in periodicals archive ?
Although Firestone had agreed to extend the Revised Drop Dead Date, as announced on 29 August 2016, by when all conditions for the acquisition of BK11 must have been satisfied, namely consideration of US$8.0 million and repayment of the care and maintenance fees to a maximum of US$40,000 per month, the Company did not close the US$10 million Loan Financing announced on 29 August 2016 or the US$30 million loan commitment with Vanderbilt Commercial Lending, Inc., as announced on 24 March 2016 on or before the Revised Drop Dead Date.
All other material terms of the amended CSA remain the same and accordingly, if the conditions of the CSA are not satisfied or waived by the Revised Drop Dead Date, the Disposal will not complete.
the drop dead date to complete construction prior to trigger of default and termination under the concession.