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
This year, a new state law required the North Carolina Alcoholic Beverage Control Commission to notify businesses that hadn’t paid their annual beer, wine and liquor permit fees by April 30 of a 30-day grace period and late penalty.
—
Nora O’Neill 5, Charlotte Observer, 5 July 2025
While there is a three year grace period for parents who’ve already borrowed a Parent PLUS loan prior to 2026, that doesn’t help new parent borrowers next year.
—Robert Farrington, Forbes.com, 30 June 2025
Trump's order itself has a 30-day grace period before taking effect, meaning right now there is no change to birthright citizenship and children born everywhere in the country are still U.S. citizens.
—Devin Dwyer, ABC News, 27 June 2025
With two weeks left until the end of a 90-day grace period, Washington officials are working on multiple accords around the world, with little to show for it so far.
—Arkansas Online, 26 June 2025
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Nora O’Neill 5, Charlotte Observer, 5 July 2025
While there is a three year grace period for parents who’ve already borrowed a Parent PLUS loan prior to 2026, that doesn’t help new parent borrowers next year.
—Robert Farrington, Forbes.com, 30 June 2025
Trump's order itself has a 30-day grace period before taking effect, meaning right now there is no change to birthright citizenship and children born everywhere in the country are still U.S. citizens.
—Devin Dwyer, ABC News, 27 June 2025
With two weeks left until the end of a 90-day grace period, Washington officials are working on multiple accords around the world, with little to show for it so far.
—Arkansas Online, 26 June 2025
See All Example Sentences for grace period
Cite this Entry
“Grace period.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/grace%20period. Accessed 22 Jul. 2025.
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