LICET NONDUM VENERIT

ubi dies cessit, licet nondum venerit (yoo-bIdI-eez ses-it, lI-set non-d[ schwa]m v[schwa]-neer-it). [Latin] Hist. In the case where the time has arrived at which money is due, although that time has not arrived at which it may be exacted. See DEBITUM IN DIEM.