Expirations

The plural form of 'expiration', referring to the act or instance of something coming to an end, usually a period of time or an agreement. This can apply to a contract, lease, patent, or any other time-bound arrangement. It signifies the termination of validity or effectiveness. 'Expirations' also encompasses the deadlines associated with these terminations and the consequences that follow, encompassing anything from immediate closure, to the commencement of new actions, or the generation of new plans to continue the relationship in another form. Its presence in a document can create a high-stakes situation for both parties to a deal.

Expirations meaning with examples

• The law firm had a very busy quarter. They meticulously reviewed all contracts and service agreements, and addressed the upcoming expirations to ensure seamless client relations. Negotiating renewals, drafting new contracts, or finding alternative providers, the firm worked to minimize any disruption for their clientele. Every action was reviewed, every deadline scheduled, and every contingency accounted for within these expirations.
• The real estate market was impacted by a surge of lease expirations. This was creating uncertainty among both tenants and property owners. Landlords were adjusting rental rates and making improvements to entice tenants, while businesses sought opportunities to relocate, which created a dynamic environment. The property market had to carefully monitor these expirations for data points in the sector.
• The project manager created a comprehensive task list. He reviewed all the upcoming data-license expirations to ensure data access continuity. He was managing a project for a government office, and it would have been a disaster if there had been a service outage due to license lapses. Each action related to each expiration would be tracked.
• The pharmaceutical company managed a portfolio of patent expirations. They strategized in response to potential generic drug competition. These patents represented significant revenue streams, thus, they were exploring options like new formulations and marketing campaigns. The business team looked at a myriad of variables associated with the expirations.
• The travel agent created reminder systems, meticulously tracking all travel documents to avoid any passport or visa expirations. They proactively alerted clients well in advance of deadlines, emphasizing the importance of timely renewals to avoid travel disruptions. Clients appreciated the support and care, so they knew they were taken care of while traveling, making each expiration a non-issue.