Evergreen Contract

Definition of Evergreen Contract

A contract which renews itself from year to year in lieu of notice by one of the parties to the contrary. Chemplex Co. v. Tauber Oil Co., D.C.Iowa, 309 F.Supp. 904, 908.

That's the definition of Evergreen Contract in Black's Law Dictionary 6th Edition. Courtesy of Cekhukum.com.