standstill agreement

noun
stand·​still agreement | \ ˈstand-ˌstil- \

Legal Definition of standstill agreement

: an agreement providing for the preservation of the status quo for a specified or indefinite period: as
a : an agreement under which litigation is forestalled between two parties
b : an agreement under which a party agrees to refrain from taking further steps to acquire control of a corporation (as by additional purchases of stock)

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“Standstill agreement.” Merriam-Webster.com Legal Dictionary, Merriam-Webster, https://www.merriam-webster.com/legal/standstill%20agreement. Accessed 21 Jun. 2021.

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