As the PP said, you get the lounge and the CL services until midnight no matter what time you check out. On our last trip (AKL-CL) we checked out at 7AM due to an early ADR at CP. We went back to wait in the lounge for ME to pick us up when just moments before we were set to go, our flight got cancelled. Though we already checked out, the CL CMs were able to help us book a room for a few more nights (though not CL) and track down and get back our luggage that we had checked hours earlier.