first call option
second call option

Выражение встречается в следующем контексте:
"The agreement does not provide for any option of the non-Russian party to acquire the business of OOO Media Planning Group. The Russian private persons (namely Mr Evgeny Shurov and Ms Natalia Kirko), however, grant Media Planning Group SA an option to acquire up to 49% of the shares in OOO Media Planning Group ("First Call Option"). Such First Call Option may be exercised by Media Planning Group SA within 6 month period following receipt of the audited financial statements for 2005" .

и:
The Russian private persons (Mr Evgeny Shurov and Ms Natalia Kirko) have also granted Media Planning Group SA an option to acquire (together with shares acquired in the course of the exercise of the First Call Option) at least 75% of the shares in OOO Media Planning Group ("Second Call Option"),

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