For technical software like Colasoft nChronos, which is frequently upgraded, a subscription-style licensing model offers several advantages to users: free access to upgrades, lower costs (especially initially), free support and smoother budgeting.
A subscription license will expire if you have not renewed it, and you will not be able to use the software until it is renewed. To continue using the software which license is expired, you must renew the license. In subsequent years, the price will be less than the first year license price.