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moratorium [(mawr-uh-tawr-ee-uhm)] A period of delay agreed to by parties to a dispute or parties who are negotiating. A moratorium may also be an authorized delay in the repayment of a loan, especially by a nation (as in a moratorium on war debts). The New Dictionary of Cultural Literacy, Third Edition Copyright Â© 2005 by Houghton Mifflin Company.
Recess. ( 1 1) An official pause in a committee hearing or floor session that halts the proceedings for a period of time but does not have the finality of adjournment. ( 2 2) A break of more than four days in the regular session schedule such as the Easter recess..