evergreen

Definition

A type of contract that rolls over on a continuous basis until one of the obligated parties cancels it. Each contractual period typically covers a short amount of time so the continuation of the agreement may occur multiple times during a one year period.

Use evergreen in a sentence

It was an evergreen contract and I tried to explain to him what it meant, because he called me asking for answers.

​ Was this Helpful? YES  NO 11 people found this helpful.

The evergreen contract existed because demand for the staple goods such as toothpaste and toilet paper would certainly, always exist.

​ Was this Helpful? YES  NO 10 people found this helpful.

The client had no idea that they'd signed an evergreen contract, and was very surprised when, three months later, it was renewed automatically.

​ Was this Helpful? YES  NO 10 people found this helpful.

Show more usage examples...

Mentioned in these terms

Browse Definitions by Letter: # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
Everest option evergreen loan