Term: pure absence: an absence seizure without other complications; followed by 3-per-sec brainwave spikes
Broader: absence: the occurrence of an abrupt, transient loss or impairment of consciousness (which is not subsequently remembered), sometimes with light twitching, fluttering eyelids, etc.; common in petit mal epilepsy | Unrelated: lock-up option: an option to buy the crown jewels offered to a white knight in order to forestall a hostile takeover