1. A prolonged period of time granted to a debtor or obligor after a deadline has passed, during which no penalties or interest accrual occurs, allowing additional time to meet financial obligations
The bank offered an extended grace period of 60 days for mortgage payments due to the pandemic.
O banco ofereceu um período de carência estendido de 60 dias para os pagamentos da hipoteca devido à pandemia.
2. In lending and finance, an additional postponement of payment obligations beyond the standard grace period initially agreed upon
Students with federal loans may qualify for an extended grace period after graduation.
Estudantes com empréstimos federais podem se qualificar para um período de carência estendido após a formatura.