grace period

noun

1. a period of time after a payment becomes due, as of a loan or life-insurance premium, before one is subject to penalties or late charges or before the loan or policy is canceled.

Example Sentences

However, the indictment's dismissal would trigger a six-month grace period for the justice department to bring the case again.

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Many users will lose access beginning Monday; the company said some power users will have an extended grace period of an hour a day.

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To the contrary, Currie notes that federal law provides a six-month grace period when prosecutors file a flawed indictment just before the statute runs: Once that indictment is dismissed, they have six additional months to return a valid one, even though the ordinary deadline has passed.

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In such circumstances, insurers usually give customers and/or their heirs a grace period after the policyholder dies if they have failed to make their payments.

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Under the planned tweaks, some groups whose generative AI systems are already on the market would be offered a grace period to help them comply with obligations on having their systems watermarked to increase transparency.

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