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English definition of “use-it-or-lose-it”

use-it-or-lose-it

adjective [before noun]     informal
used to describe something that you must use by a particular date, or you will lose the opportunity or right to have it: Tighter use-it-or-lose-it vacation policies force many workers to take their vacations before year end.
(Definition of use-it-or-lose-it adjective from the Cambridge Business English Dictionary © Cambridge University Press)
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