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grace period is a noun meaning "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". It carries one recorded sense.
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
“The payment had originally been due on April 1 but we had a grace period which expired in June.”
Definitions, synonyms and semantic relations for grace period come from Princeton University’s WordNet. Commonness is measured against a corpus of everyday English. Full sources and licences.