When you enable restrictions for an encrypted virtual machine, how and when the virtual machine expires depends on whether you configure the Fixed or Managed restrictions type.
Fixed Virtual Machine Expiration
If you select the Fixed restriction type for an encrypted virtual machine, the expiration date and time are fixed, for example, December 12, 2012, at 11:00 am in local time. The time and date are in Universal Time Coordinated (UTC) format.
When an encrypted virtual machine with an expiration date is powered on, the virtual machine verifies the time and compares it to the expiration date. While running, the virtual machine periodically checks the time and stores all successful timestamps as the last trusted time stamp. If the last trusted timestamp exceeds the date set for the virtual machine expiration, a warning message appears and the virtual machine is suspended.
After a virtual machine has expired, you can delete or extend its expiration date. You must provide the restrictions password to change the expiration date.
Managed Virtual Machine Expiration
If you select the Managed restriction type for an encrypted virtual machine, a Horizon FLEX Policy Server manages the virtual machine expiration date and time. For more information, see the VMware Horizon FLEX Administration Guide.