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grace period
noun
: a period of time beyond a due date during which a financial obligation may be met without penalty or cancellation
Examples of grace period in a Sentence
The terms of the loan allow for a ten-day grace period.
Recent Examples on the Web
The California Department of Motor Vehicles does not offer a grace period for paying annual vehicle registration fees.
—Angela Rodriguez, Sacramento Bee, 28 May 2024
The Pac-12 will remain an official conference for at least two years as the Washington State and Oregon State football teams compete during a grace period provided by the NCAA.
—Jon Wilner, The Mercury News, 27 May 2024
The deadline for all project plans that still qualify for the city’s Expanding Housing Affordability program grace period to receive final approval is now April 18, 2025.
—Joe Rubino, The Denver Post, 14 May 2024
Honeycutt said as of May 6 and until the website functions fully, a grace period is in place for anyone having difficulty making payments through the city’s systems.
—Noelle Alviz-Gransee, Kansas City Star, 8 May 2024
See all Example Sentences for grace period
These examples are programmatically compiled from various online sources to illustrate current usage of the word 'grace period.' Any opinions expressed in the examples do not represent those of Merriam-Webster or its editors. Send us feedback about these examples.
Word History
First Known Use
1907, in the meaning defined above
Dictionary Entries Near grace period
Cite this Entry
“Grace period.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/grace%20period. Accessed 14 Jun. 2024.
Legal Definition
grace period
noun
grace pe·ri·od
: a period of time beyond a scheduled date during which a required action (as payment of an obligation) may be taken without incurring the ordinarily resulting adverse consequences (as penalty or cancellation): as
a
: a period of 30 days or one month during which premiums on insurance policies may be paid without penalty
b
: a period of ten days during which certain security interests (as those in fixtures) must be perfected in order to have priority over conflicting security interests under Article 9 of the Uniform Commercial Code
called also days of grace
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