mor·a·to·ri·um /ˌmȯr-ə-'tȯr-ē-əm/ n pl -riums or -ria [New Latin, from Late Latin, neuter of moratorius dilatory, from morari to delay, from mora delay]
1 a: 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: a suspension of activity
Merriam-Webster’s Dictionary of Law. Merriam-Webster. 1996.