PUT - acronym

I saw this phrase "Primer Put" and "Segundo Put" in one of the emails. It was translated as "First Put" and "Second Put", etc...

Here are a couple candidates I found:

PUT = Purchase Upon Termination (makes most sense in the context of the email)
PUT = Payment Update Transaction

http://www.acronymfinder.com/PUT.html

Let me know if you see this...

Just found out that it's not an acronym, but an "option"

Put option, Sell option, etc...

A put option gives you the right to sell a stock to the investor who sold you the put option at a specific price, on or before a specified date.

Put and Call definitions