standstill agreement

noun

1. an agreement that preserves the status quo, esp one between two countries when one country cannot pay its debts to the other that a certain fixed extension of time will be given to repay the debts

Example Sentences

Cliffs has refused to sign a six-month standstill agreement that would prevent it from challenging U.S.

From Reuters

The Liberty Steel group owned by commodities tycoon Sanjeev Gupta said it has reached a standstill agreement with its largest creditor Greensill Bank on debt facilities for its European business.

From Reuters

The Liberty Steel group owned by commodities tycoon Sanjeev Gupta said it has reached a standstill agreement with its largest creditor Greensill Bank on debt facilities for its European business.

From Reuters

But Silver Lake also agreed at the time not to acquire more than 5 percent of the company, so Twitter would have to waive that so-called standstill agreement before it could entertain any offer from Silver Lake.

From New York Times

By not joining the board, Musk is no longer subject to a standstill agreement that would have capped his stake at 14.9%.

From Los Angeles Times