Grace period
What grace period does
During grace you can create guilds and claim territories. Bed spawns can be set more freely. Nobody can declare wars; Prime Time is effectively off for war purposes. Use the time to get your guild and territory set.
When grace ends
When the countdown hits zero the server broadcasts and switches to normal rules. War declarations at mailboxes become possible during Prime Time. Bed spawn rules tighten to your territory or the war spawn ring. Get your base and class sorted before grace ends if you want a calm start.