Common use of Effective Period Termination Clause in Contracts

Effective Period Termination. (a) Unless terminated pursuant to its terms, this Agreement shall continue until 11:59 PM (Eastern time) on December 31, 2022 (the “Current Term”), at which time this Agreement shall be renewed in accordance with the terms hereof. (b) Upon expiration of the Current Term, this Agreement shall automatically renew for successive terms of one (1) year each (each, a “Renewal Term”). Unless an Investment Company or the Custodian gives written notice to the other party of its intent not to renew this Agreement and such notice is received by the other party not less than ninety (90) days prior to the expiration of the Current Term or the then-current Renewal Term (a "Non-Renewal Notice") this Agreement shall automatically renew in accordance with its terms. In the event an Investment Company or the Custodian provides a timely Non-Renewal Notice, this Agreement shall terminate with respect to such Investment Company at 11:59 PM (Eastern time) on the last day of the Current Term or applicable Renewal Term, as applicable. If a Non-Renewal Notice is not timely provided, it shall be deemed to relate to the next subsequent Renewal Term.