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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.
moratoria. 1  1a : an authorized period of delay in the performance of an obligation (as the paying of a debt) b : a waiting period set by an authority. 2  2 : a suspension of activity.