grace period

American  

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.

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Example Sentences

The three-day vote ended Friday, with Vanke given a grace period of five working days to pay 2 billion yuan, equivalent to US$283.5 million, on the onshore bond, according to a filing on Monday to the National Association of Financial Market Institutional Investors.

From The Wall Street Journal

This grace period is now over, so IRA heirs who are required to take RMDs must take them for 2025 by year-end.

From The Wall Street Journal

The search for a new CEO could give the stock a grace period as investors ponder the path that Lululemon’s reset could take, wrote Simeon Siegel, an analyst at Guggenheim.

From Barron's

Though the benefit technically ended for solo drivers a few months ago, the Department of Motor Vehicles offered a 60-day grace period that ended Monday.

From Los Angeles Times

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

From BBC