Evergreen Period Clause Samples
The Evergreen Period clause defines a contractual term that automatically renews for successive periods unless one party provides notice of termination within a specified timeframe. In practice, this means that at the end of each term—such as annually or monthly—the agreement continues without interruption unless a party actively opts out according to the notice requirements. This clause ensures continuity of the contractual relationship and prevents accidental lapses, while also providing a clear mechanism for either party to end the agreement if desired.
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Evergreen Period. After the expiration of the Base Period this Agreement shall remain in force for an indefinite term until the Product sales and purchases provided in the Schedule of Product Purchases and all supplements thereto have been completed as required by this Agreement.
Evergreen Period. After the expiration of the second five-year Renewal Term, this Backup Fuel Agreement will automatically extend into an Evergreen Period which will continue until December 31, 2048, unless either Party elects to terminate the Evergreen Period earlier. Either Party may terminate the Evergreen Period at any time by giving at least five (5) Annual Periods prior written notice to the other Party. In that event, termination of the Evergreen Period will be effective five (5) years after the notice is given, or at such other time as the Parties may agree. If neither Party terminates the Evergreen Period earlier, the Evergreen Period will automatically terminate on December 31, 2048. The automatic termination date of December 31, 2048, may not be extended for any reason, including Force Majeure, except as provided in Section 10.5.