Common use of Term and Effectiveness Clause in Contracts

Term and Effectiveness. This Agreement shall become effective as of the date hereof and shall remain in effect for two years, and thereafter shall continue automatically for successive annual periods, provided that such continuance is specifically approved at least annually by (i) the vote of the Board, or by the vote of a majority of the outstanding voting securities of the Company and (ii) the vote of a majority of the Company’s directors who are not “interested persons” (as such term is defined in Section 2(a)(19) of the 0000 Xxx) of any such party, in accordance with the requirements of the 1940 Act (“Independent Directors”).

Appears in 3 contracts

Samples: Investment Advisory Agreement (Flat Rock Capital Corp.), Investment Advisory Agreement (Flat Rock Capital Corp.), Investment Advisory Agreement (Flat Rock Capital Corp.)

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Term and Effectiveness. This Agreement shall become effective as of the first date hereof and written above. Once effective, this Agreement shall remain in effect for two years, and thereafter shall continue automatically for successive annual one-year periods, ; provided that such continuance is specifically approved at least annually by by: (i) the vote of the BoardBoard of Directors, or by the vote of a majority of the outstanding voting securities of the Company and (ii) the vote of a majority of the Company’s directors who are not parties to this Agreement or “interested persons” (as such term is defined in Section 2(a)(19) of the 0000 Xxx1940 Act, or any successor provision thereto) of any such partyparty (the “Independent Directors”), in accordance with the requirements of the 1940 Act (“Independent Directors”)Act.

Appears in 3 contracts

Samples: Administrative Services Agreement (Corporate Capital Trust, Inc.), Administrative Services Agreement (Corporate Capital Trust, Inc.), Administrative Services Agreement (Corporate Capital Trust, Inc.)

Term and Effectiveness. This Agreement shall become effective as of the date hereof and [ ]. Once effective, this Agreement shall remain in effect for two years, and thereafter shall continue automatically for successive annual one-year periods, provided that such continuance is specifically approved at least annually by by: (i) the vote of the BoardBoard of Directors, or by the vote of a majority of the outstanding voting securities of the Company and (ii) the vote of a majority of the Company’s directors who are not parties to this Agreement or “interested persons” (as such term is defined in Section 2(a)(19) of the 0000 Xxx) of any such partyparty (“Independent Directors”), in accordance with the requirements of the 1940 Act (“Independent Directors”)Act.

Appears in 2 contracts

Samples: And Restated Agreement and Plan of Merger (Medley Capital Corp), Agreement and Plan of Merger (Sierra Income Corp)

Term and Effectiveness. This Agreement shall become be effective as of the date hereof first written above and shall remain in effect for two (2) years, and thereafter shall continue automatically for successive annual one-year periods, provided that that, such continuance is specifically approved at least annually by by: (i) the vote of the BoardBoard of Directors, or by the vote of a majority of the outstanding voting securities of the Company Company, and (ii) the vote of a majority of the Company’s directors who are not parties to this Agreement or “interested persons” (as such term is defined in Section 2(a)(19) of the 0000 1000 Xxx) of any such partyparty (“Independent Directors”), in accordance with the requirements of the 1940 Act (“Independent Directors”)Act.

Appears in 2 contracts

Samples: Investment Advisory Agreement (CION Investment Corp), Investment Advisory Agreement (CION Investment Corp)

Term and Effectiveness. This Agreement shall become effective as of the date hereof and [ ]. Once effective, this Agreement shall remain in effect for two years, and thereafter shall continue automatically for successive annual one-year periods, provided that such continuance is specifically approved at least annually by by: (i) the vote of the BoardBoard of Directors, or by the vote of a majority of the outstanding voting securities of the Company and (ii) the vote of a majority of the Company’s directors who are not parties to this Agreement or “interested persons” (as such term is defined in Section 2(a)(19) of the 0000 1940 Xxx) of xf any such partyparty (“Independent Directors”), in accordance with the requirements of the 1940 Act (“Independent Directors”)Act.

Appears in 1 contract

Samples: Agreement and Plan of Merger (Medley Capital Corp)

Term and Effectiveness. This Agreement shall become effective as of the date hereof and [ ]. Once effective, this Agreement shall remain in effect for two years, and thereafter shall continue automatically for successive annual one-year periods, provided that such continuance is specifically approved at least annually by by: (i) the vote of the BoardBoard of Directors, or by the vote of a majority of the outstanding voting securities of the Company and (ii) the vote of a majority of the Company’s directors who are not parties to this Agreement or “interested persons” (as such term is defined in Section 2(a)(19) of the 0000 1000 Xxx) of any such partyparty (“Independent Directors”), in accordance with the requirements of the 1940 Act (“Independent Directors”)Act.

Appears in 1 contract

Samples: Agreement and Plan of Merger (Sierra Income Corp)

Term and Effectiveness. This Agreement shall become effective as of the date hereof and hereof. This Agreement shall remain in effect for two years, and thereafter shall continue automatically for successive annual one-year periods, provided that such continuance is specifically approved at least annually by by: (i) the vote of the Board, or by the vote of a majority of the outstanding voting securities of the Company Company. and (ii) the vote of a majority of the Company’s directors who are not parties to this Agreement or “interested persons” (as such term is defined in Section 2(a)(19) of the 0000 Xxx1940 Act, or any successor provision thereto) (the “Independent Directors”) of any such party, in accordance with the requirements of the 1940 Act (“Independent Directors”)Act.

Appears in 1 contract

Samples: Administration Agreement (VII Peaks Co-Optivist Income BDC II, Inc.)

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Term and Effectiveness. This Agreement shall become effective as of the date hereof and shall remain in effect for two (2) years, and thereafter shall continue automatically for successive annual one-year periods, provided that that, such continuance is specifically approved at least annually by by: (i) the vote of the BoardBoard of Directors, or by the vote of a majority of the outstanding voting securities of the Company Company, and (ii) the vote of a majority of the Company’s directors who are not parties to this Agreement or “interested persons” (as such term is defined in Section 2(a)(19) of the 0000 Xxx) of any such partyparty (“Independent Directors”), in accordance with the requirements of the 1940 Act (“Independent Directors”)Act.

Appears in 1 contract

Samples: Investment Advisory and Administrative Services Agreement (Yorke Capital Corp)

Term and Effectiveness. This Agreement shall become effective as of the date hereof and shall remain in effect for two yearsfirst written above. Once effective, and thereafter this Agreement shall continue automatically for successive annual one-year periods, provided that such continuance is specifically approved at least annually by by: (i) the vote of the Board, or by the vote of a majority of the outstanding voting securities of the Company and (ii) the vote of a majority of the Company’s directors who are not parties to this Agreement or “interested persons” (as such term is defined in Section 2(a)(19) of the 0000 Xxx1940 Act, or any successor provision thereto) (the “Independent Directors”) of any such party, in accordance with the requirements of the 1940 Act (“Independent Directors”)Act.

Appears in 1 contract

Samples: Administration Agreement (CION Investment Corp)

Term and Effectiveness. This Agreement shall become effective as of the date hereof and hereof. This Agreement shall remain in effect for two years, and thereafter shall continue automatically for successive annual one-year periods, provided that such continuance is specifically approved at least annually by by: (i) the vote of the Board, or by the vote of a majority of the outstanding voting securities of the Company Company. and (ii) the vote of a majority of the Company’s 's directors who are not parties to this Agreement or "interested persons" (as such term is defined in Section 2(a)(192(a)(l9) of the 0000 Xxx1940 Act, or any successor provision thereto) (the "Independent Directors") of any such party, in accordance with the requirements of the 1940 Act (“Independent Directors”)Act.

Appears in 1 contract

Samples: Administratlon Agreement (VII Peaks Co-Optivist Income BDC II, Inc.)

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