I believe that the expiration time is the lastest time that a saveset was 
backedup plus its retention time. Note however that this is not always the 
same as the time when the tape is recyclable as this is calculated in a 
similar fashion but including dependant savesets (incrementals and diffs 
need the full backup).
We occasionally see an expiration time that was a few weeks ago, usually 
this is because a full backup was missed or failed.

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