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Independent Directors, cast at a meeting called for the purpose of voting on such approval.", "snippet_links": [{"key": "effective-as-of-the", "type": "clause", "offset": [32, 51]}, {"key": "date-of", "type": "clause", "offset": [52, 59]}, {"key": "majority-of-the-outstanding-voting-securities", "type": "clause", "offset": [128, 173]}, {"key": "the-fund", "type": "clause", "offset": [177, 185]}, {"key": "pursuant-to-section", "type": "definition", "offset": [186, 205]}, {"key": "the-1940-act", "type": "definition", "offset": [215, 227]}, {"key": "agreement-or", "type": "definition", "offset": [295, 307]}, {"key": "interested-persons", "type": "clause", "offset": [309, 327]}, {"key": "such-party", "type": "clause", "offset": [365, 375]}, {"key": "independent-directors", "type": "definition", "offset": [382, 403]}, {"key": "for-the-purpose-of", "type": "definition", "offset": [432, 450]}, {"key": "in-accordance-with", "type": "definition", "offset": [484, 502]}, {"key": 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"the-independent", "type": "clause", "offset": [1175, 1190]}], "hash": "c7fa81c155bca53894eb20a32882b253", "id": 10}], "next_curs": "Cl8SWWoVc35sYXdpbnNpZGVyY29udHJhY3RzcjsLEhZDbGF1c2VTbmlwcGV0R3JvdXBfdjU2Ih90ZXJtLWFuZC1lZmZlY3RpdmVuZXNzIzAwMDAwMDBhDKIBAmVuGAAgAA==", "clause": {"size": 491, "title": "Term and Effectiveness", "children": [["effectiveness", "Effectiveness"], ["term-and-termination", "Term and Termination"], ["continuing-rights-and-obligations", "Continuing Rights and Obligations"], ["employment-period", "Employment Period"], ["salary", "Salary"]], "parents": [["effectiveness-duration-and-termination-of-agreement", "Effectiveness Duration and Termination of Agreement"], ["duration-and-termination-of-agreement", "Duration and Termination of Agreement"], ["duration-and-termination-of-this-agreement", "Duration and Termination of This Agreement"], ["general", "General"], ["severability", "Severability"]], "id": "term-and-effectiveness", "related": [["filing-and-effectiveness", "Filing and Effectiveness", "Filing and Effectiveness"], ["term-and-effective-date", "Term and Effective Date", "Term and Effective Date"], ["continued-effectiveness", "Continued Effectiveness", "Continued Effectiveness"], ["effectiveness-and-term", "Effectiveness and Term", "Effectiveness and Term"], ["counterparts-and-effectiveness", "Counterparts and Effectiveness", "Counterparts and Effectiveness"]], "related_snippets": [], "updated": "2026-05-13T04:23:52+00:00", "also_ask": ["What are the strategic advantages of negotiating a fixed versus renewable term?", "Which termination triggers are essential to include for client protection?", "What are the most common pitfalls that render a term clause unenforceable?", "How does this clause compare to industry standards or statutory requirements?", "How do courts typically interpret ambiguous effectiveness or renewal provisions?"], "drafting_tip": "Specify the commencement and end dates to avoid ambiguity; define renewal and termination conditions to ensure enforceability; clarify post-termination obligations to prevent disputes.", "explanation": "The 'Term and Effectiveness' clause defines the duration for which an agreement remains valid and enforceable. It typically specifies the start date of the contract and outlines when and how the agreement will end, such as upon a set date, completion of certain obligations, or through early termination provisions. This clause ensures both parties are clear about the timeframe of their commitments, helping to prevent disputes over when contractual duties begin and end."}, "json": true, "cursor": ""}}