Drop dead date

{
  "id": "MLC-T-LAW-001761",
  "term": "Drop dead date",
  "field": "Law",
  "definition": "A date written into a contract, such as a merger or financing agreement, by which closing or another required step must occur. If the deadline passes, a party is generally entitled to terminate the agreement without liability for the missed date, unless its own breach caused the delay, although many contracts extend the date automatically while regulatory approval is pending. It is also called an outside date or end date.",
  "url": "https://mlchart.com/terminology/law/drop-dead-date/"
}