Fish or cut bait

Use it or lose it. When you have a good maul going forward, but momentum stalls, and it looks like someone might have their hands on your ball, the referee might call fish or cut bait to stop your additional termination even hanging on indefinitely and freaking your client out.

So, for example, you would have to exercise your rights following a NAV trigger within, say, 30 days.

Fish or cut bait clauses are a pain because the cut-off time is inevitably arbitrary, will be ambiguous (30 days from the event, or when you were actually aware of the event, or when you ought reasonably to have been aware of the event and so on — go on, shoot me now), and undoubtedly some bright spark will want to have a grace period and so on.