A point in the game when a referee has raised his arm signalling a penalty to one team, however, that team does not have possession and control of the puck, therefore the play is allowed to continue, allowing the non-offending team a chance to continue play and possibly score.
When a team scores during a delayed minor penalty situation, the penalty is immediately washed out by the goal. If a ref is assessing additional penalties or a major penalty, then those penalties could still be assessed even if a goal is scored.
When a delayed penalty situation occurs, non-offending teams will usually pull their goalie to add an extra attacker. Since the whistle will be blown when the offending team gains control of the puck, there is very little danger and much to gain with this tactic.
However, there have been several occasions when mishaps have led to own goals by teams who are looking to go on the powerplay and have pulled their goalie during the delayed penalty. Goaltender Martin Brodeur actually scored his second career goal because of this play since the last player to touch the puck from the opposing team is awarded the goal.