Common use of Production Period Clause in Contracts

Production Period. If, during either the Initial Option Period or the Option Period Extension, the Series goes into production, then Production Company’s option hereunder shall be further extended throughout the “Production Period”, which shall mean the period of time beginning upon the end of the Option Extension Period and terminating upon the earlier of either (i) Purchase; or (ii) Thirty Six (36) months from the start of the Production Period.