Transition time old to new licence

Dear Elastic,
I have a basic question: What does happen if a gold licence in an onpremises cluster runs out of time (and only e.g. a week later) the new license gets appied?
What does not funtion in that 'transition week'?
And what is still possible?
Thank you very much and kind regards.

Elasticsearch will keep running, however you will revert to a Basic license.

License Management | Kibana Guide [8.2] | Elastic goes into it.

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