A gate or gate review is used to inspect some portion of the work up to that point (often know as a stage or phase) for completeness and/or quality to determine if work should iterate or move forward. This is part of a larger methodology first used by NASA known as a phased review process.
At each gate, a decision can be made to go forward, cancel the project, iterate, or hold (wait for more information, another project activity to complete, etc.).
The term "stage-gate" is a registered trademark of the Product Development Institute.
Outside of this methodology, simply holding up a project sounds inefficient if it happens spontaneously. Any hold points should be planned in (e.g. we need to wait for the paint to dry before we hang the pictures) and are most likely represented as lead or lag time in the project plan.