A more thorough explanation:

Definition: Meaning refers to the sense of anything, especially words. It is what is conveyed or intended to be conveyed by a written or oral statement or other communicative act. The word also includes a mistaken but reasonable understanding of a communication.

For example, if someone says "I'm going to the bank," the meaning of the statement depends on the context. If the person is a banker, it means they are going to work. If the person needs to withdraw money, it means they are going to the financial institution. If the context is unclear, the meaning may be ambiguous.

Objective meaning: This refers to the meaning that would be attributed to an unambiguous document or portion of a document by a disinterested reasonable person who is familiar with the surrounding circumstances. A party to a contract is often held to its objective meaning, which it is considered to have had reason to know, even if the party subjectively understood or intended something else.

For example, if a contract states that a product will be delivered within 30 days, the objective meaning is that the product will be delivered within a month. Even if one party subjectively believed that it meant 60 days, they would still be held to the objective meaning.