Evergreen

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Evergreen

A contract that rolls over after each agreed (short-term) period until cancelled by one party.

Evergreen

Describing a long-term contract that is renewed automatically after a short-term period unless it is terminated. For example, an evergreen contract may last five years with an option to terminate at the end of one year. Unless one party or the other terminates the contract by the end of the first year, it is renewed for an additional five years after the end of the first five years.
References in periodicals archive ?
Before he knew it, the little bird was back in the evergreen tree.
CUTLINE: (1) Construction workers watch as a steel beam bearing an American flag and an evergreen tree is raised yesterday during a topping-off ceremony at the CitySquare development.
In spring, you may have seen white foam on an evergreen tree or other plant.
In honor of the Hilton Omaha reaching its highest point in construction, the highlight of the ceremony featured the hoisting of a live Evergreen tree to the top of the hotel.
Chamaecyparis (False Cypress) - Evergreens are so important at this time of year and chamaecyparis is the most popular evergreen tree in Britain.
In accordance with ancient topping out traditions, chair of governors Professor Michael Tobin placed a small evergreen tree on the roof.
When an evergreen tree such as a lemon loses its leaves, it is in response to lack of available water.
As tradition holds, construction workers attached an American flag and evergreen tree to the beam, which was hoisted to the top of the building.
The ceremony, which includes hoisting an evergreen tree to the top of a completed structure, began hundreds of years ago in Europe.
On entering the high level wrought iron gates you are greeted by an extensive driveway, sweeping lawns and perfectly placed sun terrace; all of which create an impression of a country house setting within the evergreen tree lined gardens.
5-inch tall, square-shaped candleholder has a cut-out of an evergreen tree on each side.