Common use of Effective Date Term Termination Clause in Contracts

Effective Date Term Termination. This Agreement shall become effective for an initial period of not more than two years from its effective date, and shall continue in full force and effect continuously thereafter provided that such continuance is approved at least annually as required by the 1940 Act. The effective date of this Agreement shall be the later of (i) the effective date of the initial registration statement covering the offer and sale of our shares under the Securities Act of 1933, or (ii) the date this Agreement has been approved as required by the 1940 Act. This Agreement shall automatically terminate in the event of its assignment (as defined by the 1940 Act). In addition, this Agreement may be terminated at any time, without penalty, by either party on not more than sixty days' nor less than thirty days' written notice delivered or mailed by registered mail, postage prepaid, to the other party.