THIRD OPTION PERIOD; THIRD TAKEDOWN Sample Clauses

THIRD OPTION PERIOD; THIRD TAKEDOWN. If Buyer Closes on the Second Takedown before the Second Option Period expires, the "THIRD OPTION PERIOD" shall commence when the Second Option Period expires and shall expire on December 31, 1998. In order to extend the Option into the Fourth Option Period, Buyer must have Closed on at least a combined 64% of the Lots ("THIRD TAKEDOWN") before the Third Option Period expires.