Definition - What does Condition Subsequent mean?
A condition subsequent is a condition that cancels the obligation of one party in a contract to fulfill their contractual obligations. In the context of the law, a party that defaults on their contractual obligations after a condition subsequent has occurred cannot be held liable for breaching a contract.
Justipedia explains Condition Subsequent
Condition subsequents are highly relevant for the parties involved in a contract. An example of a condition subsequent would be if party A does not have to pay party B if the latter fails to deliver a shipment by October 31. In such a case, it would be up to party B to make the delivery before the deadline in order to make sure that party A is still contractually obligated to pay for the shipment.