Common use of Term and Effectiveness Clause in Contracts

Term and Effectiveness. This Agreement shall become effective as of the date hereof and shall remain in effect for two years, and thereafter shall continue automatically for successive annual periods, provided that such continuance is specifically approved at least annually by (i) the vote of the Board, or by the vote of a majority of the outstanding voting securities of the Company and (ii) the vote of a majority of the Company’s directors who are not “interested persons” (as such term is defined in Section 2(a)(19) of the ▇▇▇▇ ▇▇▇) of any such party, in accordance with the requirements of the 1940 Act (“Independent Directors”).

Appears in 3 contracts

Sources: Investment Advisory Agreement (Flat Rock Capital Corp.), Investment Advisory Agreement (Flat Rock Capital Corp.), Investment Advisory Agreement (Flat Rock Capital Corp.)

Term and Effectiveness. This Agreement shall become effective as of the first date hereof and written above. Once effective, this Agreement shall remain in effect for two years, and thereafter shall continue automatically for successive annual one-year periods, ; provided that such continuance is specifically approved at least annually by by: (i) the vote of the BoardBoard of Directors, or by the vote of a majority of the outstanding voting securities of the Company and (ii) the vote of a majority of the Company’s directors who are not parties to this Agreement or “interested persons” (as such term is defined in Section 2(a)(19) of the ▇▇▇▇ ▇▇▇1940 Act, or any successor provision thereto) of any such partyparty (the “Independent Directors”), in accordance with the requirements of the 1940 Act (“Independent Directors”)Act.

Appears in 3 contracts

Sources: Administrative Services Agreement (Corporate Capital Trust, Inc.), Administrative Services Agreement (Corporate Capital Trust, Inc.), Administrative Services Agreement (Corporate Capital Trust, Inc.)

Term and Effectiveness. This Agreement shall become be effective as of the date hereof first written above and shall remain in effect for two (2) years, and thereafter shall continue automatically for successive annual one-year periods, provided that that, such continuance is specifically approved at least annually by by: (i) the vote of the BoardBoard of Directors, or by the vote of a majority of the outstanding voting securities of the Company Company, and (ii) the vote of a majority of the Company’s directors who are not parties to this Agreement or “interested persons” (as such term is defined in Section 2(a)(19) of the 1▇▇▇ ▇▇▇) of any such partyparty (“Independent Directors”), in accordance with the requirements of the 1940 Act (“Independent Directors”)Act.

Appears in 2 contracts

Sources: Investment Advisory Agreement (CION Investment Corp), Investment Advisory Agreement (CION Investment Corp)

Term and Effectiveness. This Agreement shall become effective as of the date hereof and [ ]. Once effective, this Agreement shall remain in effect for two years, and thereafter shall continue automatically for successive annual one-year periods, provided that such continuance is specifically approved at least annually by by: (i) the vote of the BoardBoard of Directors, or by the vote of a majority of the outstanding voting securities of the Company and (ii) the vote of a majority of the Company’s directors who are not parties to this Agreement or “interested persons” (as such term is defined in Section 2(a)(19) of the ▇▇▇▇ ▇▇▇) of any such partyparty (“Independent Directors”), in accordance with the requirements of the 1940 Act (“Independent Directors”)Act.

Appears in 2 contracts

Sources: Agreement and Plan of Merger (Medley Capital Corp), Agreement and Plan of Merger (Sierra Income Corp)

Term and Effectiveness. This Agreement shall become effective as of the date hereof and [ ]. Once effective, this Agreement shall remain in effect for two years, and thereafter shall continue automatically for successive annual one-year periods, provided that such continuance is specifically approved at least annually by by: (i) the vote of the BoardBoard of Directors, or by the vote of a majority of the outstanding voting securities of the Company and (ii) the vote of a majority of the Company’s directors who are not parties to this Agreement or “interested persons” (as such term is defined in Section 2(a)(19) of the ▇▇▇194▇ ▇▇▇) of ▇f any such partyparty (“Independent Directors”), in accordance with the requirements of the 1940 Act (“Independent Directors”)Act.

Appears in 1 contract

Sources: Merger Agreement (Medley Capital Corp)

Term and Effectiveness. This Agreement shall become effective as of the date hereof and [ ]. Once effective, this Agreement shall remain in effect for two years, and thereafter shall continue automatically for successive annual one-year periods, provided that such continuance is specifically approved at least annually by by: (i) the vote of the BoardBoard of Directors, or by the vote of a majority of the outstanding voting securities of the Company and (ii) the vote of a majority of the Company’s directors who are not parties to this Agreement or “interested persons” (as such term is defined in Section 2(a)(19) of the 1▇▇▇ ▇▇▇) of any such partyparty (“Independent Directors”), in accordance with the requirements of the 1940 Act (“Independent Directors”)Act.

Appears in 1 contract

Sources: Merger Agreement (Sierra Income Corp)

Term and Effectiveness. This Agreement shall become effective as of the date hereof and hereof. This Agreement shall remain in effect for two years, and thereafter shall continue automatically for successive annual one-year periods, provided that such continuance is specifically approved at least annually by by: (i) the vote of the Board, or by the vote of a majority of the outstanding voting securities of the Company Company. and (ii) the vote of a majority of the Company’s directors who are not parties to this Agreement or “interested persons” (as such term is defined in Section 2(a)(19) of the ▇▇▇▇ ▇▇▇1940 Act, or any successor provision thereto) (the “Independent Directors”) of any such party, in accordance with the requirements of the 1940 Act (“Independent Directors”)Act.

Appears in 1 contract

Sources: Administration Agreement (VII Peaks Co-Optivist Income BDC II, Inc.)

Term and Effectiveness. This Agreement shall become effective as of the date hereof and hereof. This Agreement shall remain in effect for two years, and thereafter shall continue automatically for successive annual one-year periods, provided that such continuance is specifically approved at least annually by by: (i) the vote of the Board, or by the vote of a majority of the outstanding voting securities of the Company Company. and (ii) the vote of a majority of the Company’s 's directors who are not parties to this Agreement or "interested persons" (as such term is defined in Section 2(a)(192(a)(l9) of the ▇▇▇▇ ▇▇▇1940 Act, or any successor provision thereto) (the "Independent Directors") of any such party, in accordance with the requirements of the 1940 Act (“Independent Directors”)Act.

Appears in 1 contract

Sources: Administration Agreement (VII Peaks Co-Optivist Income BDC II, Inc.)

Term and Effectiveness. This Agreement shall become effective as of the date hereof and first set forth above. This Agreement shall remain in effect for two years(2) years from the effective date hereof, and thereafter shall continue automatically for successive annual one-year periods, provided that such continuance is specifically approved at least annually by by: (i) the vote of the BoardCompany's Board of Directors, or by the vote of a majority of the outstanding voting securities of the Company and (ii) including the vote of a majority of the Company’s 's directors who are not "interested persons" (as such term is defined in Section 2(a)(19) of the 1▇▇▇ ▇▇▇) of any such partyparty to this Agreement (the "Independent Directors"), in accordance with the requirements of the 1940 Act Act, or (ii) by the vote of the holders of a majority of the outstanding voting securities of the Company entitled to vote and the vote of a majority of the Company's Independent Directors”).

Appears in 1 contract

Sources: Investment Advisory Agreement (NorthStar/Townsend Institutional Real Estate Fund Inc.)

Term and Effectiveness. This Agreement shall become effective as of the date hereof and shall remain in effect for two (2) years, and thereafter shall continue automatically for successive annual one-year periods, provided that that, such continuance is specifically approved at least annually by by: (i) the vote of the BoardBoard of Directors, or by the vote of a majority of the outstanding voting securities of the Company Company, and (ii) the vote of a majority of the Company’s directors who are not parties to this Agreement or “interested persons” (as such term is defined in Section 2(a)(19) of the ▇▇▇▇ ▇▇▇) of any such partyparty (“Independent Directors”), in accordance with the requirements of the 1940 Act (“Independent Directors”)Act.

Appears in 1 contract

Sources: Investment Advisory and Administrative Services Agreement (Yorke Capital Corp)

Term and Effectiveness. This Agreement shall become effective as of the date hereof and shall remain in effect for two yearsfirst written above. Once effective, and thereafter this Agreement shall continue automatically for successive annual one-year periods, provided that such continuance is specifically approved at least annually by by: (i) the vote of the Board, or by the vote of a majority of the outstanding voting securities of the Company and (ii) the vote of a majority of the Company’s directors who are not parties to this Agreement or “interested persons” (as such term is defined in Section 2(a)(19) of the ▇▇▇▇ ▇▇▇1940 Act, or any successor provision thereto) (the “Independent Directors”) of any such party, in accordance with the requirements of the 1940 Act (“Independent Directors”)Act.

Appears in 1 contract

Sources: Administration Agreement (CION Investment Corp)