In Lecture Notes in Algebraic Topology by Davis & Kirk, on page 241, there is written:

What do $E^\infty$ and $\lim_{r\to\infty}E^r_{p,q}$ mean? If a spectral sequence is not first-quadrant and is not bounded (each diagonal having only finitely nonzero modules), such as the Leray-Serre-Atiyah-Hirzebruch spectral sequence, how is convergence defined? Shouldn't condition 1 be written so that we get an isomorphism $E^r_{p,q}\cong E^{r+1}_{p,q}$ instead of only a surjection?
I was told by my professor that $\lim_{n\to\infty}E_{p,n-p}^r$ means the direct limit of the direct system of modules $(E_{p,n-p}^r)_{r=r_0}^\infty$ and quotient projection homomorphisms $E_{p,n-p}^r\rightarrow E_{p,n-p}^{r+1}$, which exists by condition 1.
Furthermore, for a 1st & 4th quadrant spectral sequence (such as the Leray-Serre-Atiyah-Hirzebruch spectral sequence), condition 1 is always satisfied, since for fixed $p$ and $q$, the homomorphism $d^r:E_{p,q}^r \rightarrow E_{p-r,q+r-1}^r$ will be $0$ for large enough $r$, because if $r > p$, then $p-r<0$ and $E_{p-r,q+r-1}^r=0$.