moratorium

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Moratorium

A temporary delay. An example of a moratorium is a delay in the payment of debt. That is, if too many people are unable to repay loans, the government may declare that no one is legally obligated to make debt service payments for a period of six months. Likewise, if a company is having a difficult year, it may declare a moratorium on research and development funding for two years in order to save money.

moratorium

the suspension of repayment of DEBT, or INTEREST, for a specified period of time. For example, the freezing of debt repayment obligations extended by advanced country governments and private banks to a developing country that is experiencing acute balance of payments difficulties or the suspension of debt payments owing to dealers in a commodity market that has suffered a dramatic price collapse. See DEBT SERVICING, INTERNATIONAL DEBT.

moratorium

A temporary cessation.Usually encountered in real estate when a local government suspends issuance of building permits in a particular area because, for example, the existing water line or sewer line capacity will not accommodate new growth.

References in periodicals archive ?
The Business Council of Westchester has created a task force focused on developing short and long-term solutions to address Con Edison's moratorium, according to said John Ravitz, Executive Vice President/COO, Business Council of Westchester.
Covered by the moratorium are the following: deed of conditional sale, emergency loan, pension loan, pensioners' emergency loan, pensioners' restructured loan, real estate loan and restructured real estate loan.
Dayton's spokesman, Matt Swenson, issued a statement saying the governor "lacks the authority to unilaterally impose his own moratorium." Swenson said the position was based on the advice of Micah Hines, the governor's legal counsel.
Councilor Sharyl Brannon-Abbasapour voted against imposing a moratorium.
Valerio Romano, a Boston-based attorney who represents several applicants, said the moratoriums are a ''real headache'' for some clients.
Of course, a moratorium isn't the only way for a community to control growth.
In a letter urging President Clinton to declare an executive moratorium on federal executions, American religious leaders, including Sojourners' Jim Wallis, insisted that "at no time since the death penalty was halted in 1972, have Americans, individually and collectively, expressed such grave reservations about capital punishment." Could it be that we're coming to the day when someone could be in the serious running for public office and not be in favor of the death penalty?
Recommendations include an extension of the moratorium or the development of an Internet national sales tax system.
The moratorium is in effect as of today, and the Minister will not approve the process of hydraulic fracturing across the entire Northern Territory.
In Creswell, three of four councilors voted to support a moratorium - although final action won't be taken until a special council meeting on April 21.
Shelby passed its six-month moratorium after a test well was built less than 500 feet from a residence close to the 25 Mile-Dequindre intersection.
So far, two cities - Florence and Junction City - have passed moratoriums that will prevent people from opening up pot shops within the two cities for one year.