With the collective bargaining agreement set to expire in about a month and no real signs of progress, a likely lockout has left the Cavs in a predicament with their trade exception.
The Cavs have petitioned the league to have the final nine days tacked on to the new season. If granted, it would give the Cavs nine days after the lockout was lifted to use whatever part of the exception they had remaining. But the Cavs have no idea whether or not the league will grant the request, and they don't expect to hear an answer from the league until after the lockout is lifted.
Source: RealGM.com

If the Cavs get the extension then obviously it applies to the Raptors who are in the same boat with their TPE. It would be a great flexibility to have entering into FA after the lockout. In my opinion it seems like the right thing for the league to do too by the way. Why should the Cavs and Raptors suffer because of a labor dispute?