What is the true meaning of Grace?

I often wonder what it means to others. In my life I have needed so much Grace that I feel it makes it easier for me to give Grace. I feel like if you have been blessed you should be a blessing and if you have been forgiven you should forgive. These are the traits I try to live my life by. Characteristics that I want to teach my sons.

Meaning of Grace: The exercise of love, kindness, mercy, favor; disposition to benefit or serve another; favor bestowed or privilege conferred.

Grace to me is loving the unlovable and believing in the goodness even when it is hard to see.