grace period

1. 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 (synset 115142101)
   "The payment had originally been due on April 1 but we had a grace period which expired in June."
   is a type of: period, period of time, time period - an amount of time
   same as: grace

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