> For the complete documentation index, see [llms.txt](https://tomorrowlend.gitbook.io/tommorrowlend/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://tomorrowlend.gitbook.io/tommorrowlend/protocol/tomorrow-repos/maturity.md).

# Maturity

On the maturity or repurchase date, borrowers are obligated to repurchase their collateral tokens at the repurchase price.

## Repurchase Window

Borrowers must repay within the repurchase window, which is typically a 24 hour window beginning on the repurchase date and time. Failure to do so results in a default and liquidation due to a failure to repurchase. Lenders cannot burn Term Repo Tokens to obtain repayment during the repurchase window.

## Redemption Window

Once the repurchase window closes, the redemption window begins. The redemption window is open ended. Lenders holding TomorrowLend Tokens may burn them to convert them into Purchase Tokens.