Pause Periods definition
Pause Periods and “Pause Period” shall have the respective meanings ascribed thereto in Section 3.07.
Examples of Pause Periods in a sentence
Following expiration of the Pause Periods described in the foregoing sentence, two additional Pause Periods of up to six months each may be elected during the term of an Option Agreement subject to Owner’s approval (not to be unreasonably withheld, conditioned, or delayed) and the continued existence of the Market Condition at such time.
For the avoidance of doubt, Founder’s right to call a Pause Period, hereunder, shall be in addition to Founder’s Right to call a Pause Period under any other Program Document; provided, however, that Founder shall not be permitted to call more than two Pause Periods with respect to the same community, inclusive of exercises of its right under this Agreement or any other Program Document.