grace period

Noun

Meaning

a period of time past the deadline for fulfilling an obligation during which a penalty that would be imposed for being late is waived, especially an extended period granted as a special favor

Source: WordNet

Synonyms

Hypernyms

Examples

The payment had originally been due on April 1 but we had a grace period which expired in June. Source: Internet

After a 10-minute grace period, drivers will be charged $1 per minute for staying beyond the posted time limit. Source: Internet

A grace period will be applied during this period to give you breathing room to make the payment. Source: Internet

Another proposed grace period for Olmsted County property tax payments? Source: Internet

Also, ask the lender if you can make payments on the principal during the grace period. Source: Internet

Gov. Gavin Newsom said many banks have agreed to a 90-day grace period for mortgage payments for Californians impacted by the COVID-19 crisis. Source: Internet

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