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Meaning of either-or

ei•ther-or

Pronunciation: (ē'ur ôr', ī'ur-), [key]
— adj.
  1. allowing no equivocation; being limited in choice to two options: It's an either-or situation--you pay the bill or you lose the company's services.
Random House Unabridged Dictionary, Copyright © 1997, by Random House, Inc., on Infoplease.