drop-dead fee

British

noun

a fee paid to an organization lending money to a company that is hoping to use it to finance a takeover bid. The fee is only paid if the bid fails and interest charges are only incurred if the money is needed

"Collins English Dictionary — Complete & Unabridged" 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012

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Definitions and idiom definitions from Dictionary.com Unabridged, based on the Random House Unabridged Dictionary, © Random House, Inc. 2023