The term "third act" refers to a specific point or moment in a story, typically within a play, movie, or narrative. It is the final section or part of the story and usually occurs after the second act. The third act often involves the resolution of conflicts that have been building throughout the previous acts, with characters making decisions and taking actions to bring about a conclusion. In some cases, it may also include an epilogue or coda that provides additional information or closure beyond the main events of the story.