The Collaborative International Dictionary
Clearance \Clear"ance\ (kl[=e]r"ans), n.
The act of clearing; as, to make a thorough clearance.
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A certificate that a ship or vessel has been cleared at the customhouse; permission to sail.
Every ship was subject to seizure for want of stamped clearances.
--Durke Clear or net profit.
--Trollope.-
(Mach.) The distance by which one object clears another, as the distance between the piston and cylinder head at the end of a stroke in a steam engine, or the least distance between the point of a cogwheel tooth and the bottom of a space between teeth of a wheel with which it engages.
Clearance space (Steam engine), the space inclosed in one end of the cylinder, between the valve or valves and the piston, at the beginning of a stroke; waste room. It includes the space caused by the piston's clearance and the space in ports, passageways, etc. Its volume is often expressed as a certain proportion of the volume swept by the piston in a single stroke.
Wiktionary
n. In a steam engine, the space enclosed in one end of the cylinder, between the valve(s) and the piston, at the beginning of a stroke; waste room. It includes the space caused by the piston's clearance and the space in ports, passageways, etc. Its volume is often expressed as a certain proportion of the volume swept by the piston in a single stroke.