evergreen contract

ev·er·green con·tract

(evĕr-grēn kontrakt)
An agreement for health care contract that is renewed anually unless efforts are made to request changes in coverage.
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The contract extension took effect in June 2019 and sees Stork secure its first evergreen contract in the UK that will automatically renew each year with an annual review of performance.
They want to raise the lease for the land which is covered by an evergreen contract under the privatization agreement.
The Evergreen contract was developed by Willis in conjunction with AIG, the underwriters.
Spicewood, TX, June 03, 2012 --(PR.com)-- Texas Energy Group, LLC (TEG) is pleased to announce that because of their continued relationship and month to month evergreen contract with GulfMark Energy Inc., they are being paid a higher net price for their oil sold in Liberty, Tyler, Matagorda, Karnes, Goliad and Ft.
With respect to length of terms, no matter who I'm representing--and I've represented both sides--I recommend an indeterminant term, or an evergreen contract. Under this arrangement, the contract doesn't automatically come to a crashing halt.
Kemira Chemicals Inc., Kennesaw, Georgia, USA, and Longview Fibre Company, Longview, Washington, USA, have signed a four-year to evergreen contract for Kemira to provide Longview Fibre all specialty/functional chemical requirements for its Longview facility.
David Burtenshaw, chief executive of Lynx Express, said: "We view this as an evergreen contract and hope our five-year agreement is just the beginning of a long-term partnership.
In October 2000, Clough was awarded the first of three contracts worth A$68.4 million under an evergreen contract for the joint venture to undertake all Unocal Thailand offshore gas field wellhead and pipeline development work in the Gulf of Thailand.
An automatically renewing or evergreen contract avoids renegotiating terms periodically.
Wood has commenced a multi-million dollar, evergreen contract to act as operating partner of the Scottish Area Gas Evacuation (SAGE) system and Beryl pipeline, on behalf of Ancala Midstream Acquisitions Limited (Ancala Midstream).
To allow for the new birthing service to operate, the longstanding evergreen contract between the Tasmanian Government and North West Private Hospital will cease, and a new contract has been agreed with a fixed eight-year term.
The evergreen contract, delivered from Petrofac s Great Yarmouth Office, secures 26 onshore and offshore jobs, and in addition to Duty Holder responsibilities, Petrofac will take over management for an existing helicopter services contract.
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