Lipschitz continuity: a question about a detail of the definition

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There is a particular detail about Lipschitz continuity about which I am unsure. I would define Lipschitz continuity as follows. For simplcity I assume a real-valued function on the real line. Is the following correct?

There exists positive constants a and b such both $\vert x-x_0\vert < a$ AND $ \vert f(x) - f(x_0)\vert < b \vert x-x_0 \vert$ are true. Note that I do NOT require: Given $b$ there exists $a$ etc etc, or vice versa. I merely require that the constants $a$ and $b$ exist.

This does not exclude the if $b$ then $a$ .... relationship, it merely is not required. The inverse - if $a$ then $b$ - is also allowed, which gives a lot of flexibility.

Am I missing something?