Tracking Alpha
What it is
The date after which either side may end the agreement if the deal hasn't closed.
On the site asTo outsideEnd dateDrop-dead date
How to read it
To outside is the calendar days from today to it. It is the outside date as it stands now: an extension counts once it has been used or agreed, not while it could still happen.
Passing it doesn't end the deal by itself; it gives either side the right to.