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.
The restrictive component of the covenant means that the party agrees to either refrain from performing an act on the property or using the property in a certain way. For instance, there can be a restrictive covenant that prohibits the use of the property for rental use or for retail use.