Cold drink runs out (I catered badly) (4,3)

I believe the answer is:

iced tea

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'cold drink' is the definition.
(I've seen this before)

I don't understand the remainder of the clue.

(Other definitions for iced tea that I've seen before include "Cool drink" , "Cold summer drink" , "Chilled drink" .)

I've seen this clue in The Independent.

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