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HandbookDates and deadlines

What is an outside date?

What it means and how to read it on a deal.

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
ILLUSTRATIONTodayExpected closeOutside dateA right to end the agreement, not an automatic end.

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.

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