moratorium

moratorium
    n 1: a legally authorized postponement before some obligation
         must be discharged
    2: suspension of an ongoing activity
    

Moratorium \Mor`a*to"ri*um\, n. [NL. See {Moratory}.]
   1. (Law) A period during which an obligor has a legal right
      to delay meeting an obligation, esp. such a period
      granted, as to a bank, by a moratory law.
      [Webster 1913 Suppl.]

   2. a suspension of an activity.
      [PJC]

   3. an officially authorized period of delay or waiting; as, a
      moratorium on putting a law into effect.
      [PJC]
    

49 Moby Thesaurus words for "moratorium":
      afterthought, bind, block, blockage, bureaucratic delay,
      cancellation, delay, delayage, delayed reaction, detention,
      double take, dragging, freeze, grace period, halt, hang-up, hiatus,
      hindrance, holdup, interim, jam, lag, lagging, logjam,
      obliteration, obstruction, paperasserie, pause, postponement,
      red tape, red-tapeism, red-tapery, reprieve, respite, retardance,
      retardation, slow-up, slowdown, slowness, stay, stay of execution,
      stop, stoppage, suspense, suspension, tie-up, time lag, wait,
      write-off