Hedge Fund Glossary

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Evergreen

a provision in a contract that allows for the automatic renewal after the initial term of such contract for successive terms of an agreed upon length so long as neither party gives advance notice of an intent not to renew. As an example, the contract language will look something like this: “The term of this agreement shall commence on January 1, 2012, and continue through December 31, 2012, and shall continue from year to year thereafter unless terminated pursuant to section X.” Evergreen provisions are useful because they prevent you from having to renegotiate your entire agreement each year unless one party is demanding it.

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