from The American Heritage® Dictionary of the English Language, 4th Edition
- n. A period in which a debt may be paid without accruing further interest or penalty.
- n. A period in which an insurance policy is effective even though the premium is past due.
from Wiktionary, Creative Commons Attribution/Share-Alike License
- n. A length of time during which rules or penalties do not take effect or are withheld.
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