forbearance

refraining or desisting from exercising one’s legal right. Parties, particularly creditors, may give a forbearance and decline, for example, to foreclose on a loan. Forbearances are given for a party’s convenience,  to forge a new compromise, or preserve a valuable relationship rather than undergo the expense associated with defaults and litigation. During economic catastrophes, forbearances may be common, as lenders, landlords, and others may forbear legal options in the hope that, following the downturn, the debtor or tenant will then resume payments.