Define moratorium: a legally authorized period of delay in the performance of a legal obligation or the payment of a debt â moratorium in a sentence a legally authorized period of delay in the performance of a legal obligation or the payment of a debt; a waiting period set by an authorityâ¦
Restrictive Clause. A restrictive modifying clause (or essential clause) is an adjective clause that is essential to the meaning of a sentence because it limits the thing it refers to. The meaning of the sentence would change if the clause were deleted.
Found In: Non-Competition Agreement | Updated: 6/13/2016. The Definition of Competition clause defines the scope of prescribed competition. The clause typically contains four elements: (a) restricted period; (b) restricted activities; (c) restricted business and (d) restricted territories. The component elements of the clause exhibit a high degree of conformity.