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Probably a cooperative close?
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Good chance they haven't implemented anything in particular, and just included that guarantee to keep their options open, legally speaking.
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They have the option to splice out the inbound liquidity you rented. But it you used most of it to receive payments, then nothing happens. They have to pay the on-chain fee to splice out any unused inbound liquidity after the year.
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What happens after a year? Force close?