time agreement

English

Noun

time agreement (plural time agreements)

1. (business, law) An agreement allowing one of the parties in a contract a certain amount of discretion to determine the exact scope or extent of their obligations under it, or for allowing an agreement for an indefinite period.
2. (US, politics, government) A pact or promise made by the party leaders in the United States Senate to limit the amount of time permitted for debating a new law or amending a change to an existing law.