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forfeiture:

1. A destruction or deprivation of some estate or right because of the failure to perform some contractual obligation or condition. [1]

     “[When a condition] is not likely to occur until the obligee has relied on the expected exchange by, for example, performing or preparing to perform, . . . nonoccurrence of the condition results in the obligee’s loss of its reliance interest when the obligee loses the right to that exchange.  This loss of reliance interest is often described as ‘forfeiture.’” E. Allan Farnsworth, Contracts 5 8.4, at 533 (3d ed. 1999).

forfeiture clause:
(1804)

1. A contractual provision stating that, under certain circumstances, one party must forfeit something to the other.  *  Forfeiture clauses are often held to be void, although they are similar to conditions and other qualifications of estates in land. [1]

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