Term of the Day Friday, August 28, 2015

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.

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

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

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Everest option evergreen loan