Which movie is “that'll be the day” from?

The clip at the top of this page is from American Movie (1999).

Pay for the film, get the three grand back, pay everyone back, take profits-- That'll be the day.

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that'll be the day

In American Movie (1999), one line is: “Pay for the film, get the three grand back, pay everyone back, take profits-- That'll be the day.”

used when you are saying that sth is very unlikely to happen

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used when you are saying that sth is very unlikely to happen
That'll be the day.
Pay for the film, get the three grand back, pay everyone back, take profits-- That'll be the day.

定義：Oxford Advanced Learner's Dictionary 第 9 版