Common use of Term and Effectiveness Clause in Contracts

Term and Effectiveness. This Agreement shall become effective as of the first date written above. Once effective, this Agreement shall remain in effect for two years, and thereafter shall continue automatically for successive one-year periods; provided that such continuance is specifically approved at least annually by: (i) the vote of the Board 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 Independent Directors, in accordance with the requirements of the 1940 Act.

Appears in 10 contracts

Samples: Investment Advisory Agreement (Kayne Anderson BDC, Inc.), Investment Advisory Agreement (Palmer Square Capital BDC Inc.), Investment Advisory Agreement (Palmer Square Capital BDC Inc.)

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Term and Effectiveness. This Agreement shall become effective as of the first date written above. Once effective, this Agreement shall remain in effect for two years, and thereafter shall continue automatically for successive one-year periods; provided that such continuance is specifically approved at least annually by: (i) the vote of the Board of DirectorsBoard, or by the vote of a majority of the outstanding voting securities of the Company and (ii) the vote of a majority of the Independent Directors, in accordance with the requirements of the 1940 Act, or as otherwise permitted under Section 15 of the 1940 Act.

Appears in 9 contracts

Samples: Investment Advisory Agreement (Morgan Stanley Direct Lending Fund), Investment Advisory Agreement (Morgan Stanley Direct Lending Fund), Investment Advisory Agreement (LGAM Private Credit LLC)

Term and Effectiveness. This Agreement shall become effective as of the date first date written above. Once effective, this This Agreement shall remain in effect for two years, and thereafter shall continue automatically for successive one-year periods; provided that such continuance is specifically approved at least annually by: (i) the vote of the Board of DirectorsBoard, or by the vote of a majority of the outstanding voting securities of the Company and (ii) the vote of a majority of the Independent Directors, in accordance with the requirements of the 1940 Investment Company Act, or as otherwise permitted under Section 15 of the Investment Company Act.

Appears in 7 contracts

Samples: Agreement and Plan of Merger (Franklin BSP Lending Corp), Investment Advisory Agreement (Franklin BSP Capital Corp), Investment Advisory Agreement (Lafayette Square Mid-Atlantic BDC, LLC)

Term and Effectiveness. This Agreement shall become effective as of the first date written abovehereof (the “Effective Date”). Once effective, this This Agreement shall remain in effect for two years, and thereafter shall continue automatically for successive one-year annual periods; , provided that such continuance is specifically approved at least annually by: by (i) the vote of the Board of DirectorsBoard, or by the vote of a majority of the outstanding voting securities of the Company Fund, and (ii) the vote of a majority of the Fund’s Independent DirectorsTrustees, in accordance with the requirements of the 1940 Act.

Appears in 5 contracts

Samples: Investment Sub Advisory Agreement, Investment Sub Advisory Agreement (CION Ares Diversified Credit Fund), Investment Sub Advisory Agreement (Ramius Archview Credit & Distressed Fund)

Term and Effectiveness. This Agreement shall become effective as of the first date written aboveabove written. Once effective, this This Agreement shall remain in effect for two yearsyears from such date, and thereafter shall continue automatically for successive one-year annual periods; , provided that such continuance is specifically approved at least annually by: by (i) the vote of the Board of DirectorsBoard, or by the vote of a majority of the outstanding voting securities of the Company Fund, and (ii) the vote of a majority of the Fund’s Independent DirectorsTrustees, in accordance with the requirements of the 1940 Investment Company Act.

Appears in 3 contracts

Samples: Investment Advisory Agreement (Triloma EIG Global Energy Fund), Investment Advisory Agreement (Triloma EIG Global Energy Term Fund I), Investment Advisory Agreement (Ramius Archview Credit & Distressed Fund)

Term and Effectiveness. This Agreement shall become effective as of the first date written aboveEffective Date. Once effective, this Agreement shall remain in effect for two years, and thereafter shall continue automatically for successive one-year periods; provided that such continuance is specifically approved at least annually by: (i) the vote of the Board of DirectorsBoard, or by the vote of a majority of the outstanding voting securities of the Company Fund, and (ii) the vote of a majority of the Independent Directors, in accordance with the requirements of the 1940 Act, or as otherwise permitted under Section 15 of the 1940 Act.

Appears in 2 contracts

Samples: Investment Advisory Agreement (Stepstone Private Credit Fund LLC), Investment Advisory Agreement (Stepstone Private Credit Fund LLC)

Term and Effectiveness. This Agreement shall become effective as of the first date written aboveabove written. Once effective, this This Agreement shall remain in effect for two yearsyears from such date, and thereafter shall continue automatically for successive one-year annual periods; , provided that such continuance is specifically approved at least annually by: by (i) the vote of the Board of DirectorsBoard, or by the vote of a majority of the outstanding voting securities of the Company Fund and (ii) the vote of a majority of the Fund’s Independent DirectorsTrustees, in accordance with the requirements of the 1940 Investment Company Act.

Appears in 2 contracts

Samples: Administration Agreement (Triloma EIG Global Energy Term Fund I), Administration Agreement (Triloma EIG Global Energy Fund)

Term and Effectiveness. This Agreement shall become effective as of the first date written above. Once effective, this Agreement shall remain in effect for two years, and thereafter shall continue automatically for successive one-year periods; , provided that such continuance is specifically approved at least annually by: (i) the vote of the Board of DirectorsTrustees, 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 Independent DirectorsTrustees, in accordance with the requirements of the 1940 Act.

Appears in 1 contract

Samples: Investment Advisory Agreement (Corporate Capital Trust II)

Term and Effectiveness. This Agreement shall become effective as of the first date written above. Once effective, this Agreement shall remain in effect for two years, and thereafter shall continue automatically for successive one-year periods; provided that such continuance is specifically approved at least annually by: (i) the vote of the Board of DirectorsBoard, or by the vote of a majority of the outstanding voting securities of the Company and (ii) the vote of a majority of the Independent DirectorsTrustees, in accordance with the requirements of the 1940 Act, or as otherwise permitted under Section 15 of the 1940 Act.

Appears in 1 contract

Samples: Investment Advisory Agreement (Overland Advantage)

Term and Effectiveness. This Agreement shall become effective as of on the date first date written above. Once effective, this Agreement above and shall remain continue in effect for two yearsone year; thereafter, and thereafter the Agreement shall continue automatically for successive one-year periods; , provided that such continuance is specifically approved at least annually by: (i) the vote of the Board of DirectorsTrustees, 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 Independent DirectorsTrustees who are not parties to this Agreement, in accordance with the requirements of the 1940 Act.

Appears in 1 contract

Samples: Investment Advisory Agreement (Carey Credit Income Fund - I)

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Term and Effectiveness. This Agreement shall become effective as of the first date written above. Once effective, this This Agreement shall remain in effect continue for two yearsthe term of the Prior Agreement, and thereafter shall continue automatically for successive one-year periodsperiods ending on each anniversary of the thirteenth (13th) day of January; provided that such continuance is specifically approved at least annually by: (i) the vote of the Board 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 Independent Directors, in accordance with the requirements of the 1940 Act.

Appears in 1 contract

Samples: Investment Advisory Agreement (Palmer Square Capital BDC Inc.)

Term and Effectiveness. This Agreement shall will become effective as of the first date written above. Once effective, this Agreement shall will remain in effect for two years, and thereafter shall will continue automatically for successive one-year periods; provided that such continuance is specifically approved at least annually by: (i) the vote of the Board of Directors, or by the vote of a majority of the outstanding voting securities of the Company (as “majority” is defined in Section 2(a)(42) of the 0000 Xxx) and (ii) the vote of a majority of the Independent Directors, in accordance with the requirements of the 1940 Act.

Appears in 1 contract

Samples: Investment Advisory Agreement (First Eagle BDC, LLC)

Term and Effectiveness. This Agreement shall become effective as of the first date written aboveabove written. Once effective, this This Agreement shall remain in effect for two yearsyears from the Effective Date, and thereafter shall continue automatically for successive one-year annual periods; , provided that such continuance is specifically approved at least annually by: by (i) the vote of the Board of DirectorsBoard, or by the vote of a majority of the outstanding voting securities of the Company Fund, and (ii) the vote of a majority of the Fund’s Independent DirectorsTrustees, in accordance with the requirements of the 1940 Investment Company Act.

Appears in 1 contract

Samples: Investment Advisory Agreement (Ramius Archview Credit & Distressed Fund)

Term and Effectiveness. This Agreement shall become effective as of the first date written above. Once effective, this This Agreement shall remain continue in effect for two yearsyears from the date of the Prior Agreement, and thereafter shall continue automatically for successive one-year periods; provided that such continuance is specifically approved at least annually by: (i) the vote of the Board of DirectorsBoard, or by the vote of a majority of the outstanding voting securities of the Company and (ii) the vote of a majority of the independent directors of the Company (the “Independent Directors”), in accordance with the requirements of the 1940 Act, or as otherwise permitted under Section 15 of the 1940 Act.

Appears in 1 contract

Samples: Investment Advisory Agreement (SL Investment Corp.)

Term and Effectiveness. This Agreement shall become effective as of the first date written aboveon February 27, 2015. Once effective, this This Agreement shall remain in effect for two years, and thereafter shall continue automatically for successive one-year periods; , provided that such continuance is specifically approved at least annually by: (i) the vote of the Board of DirectorsTrustees, 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 Independent DirectorsTrustees who are not parties to this Agreement, in accordance with the requirements of the 1940 Act.

Appears in 1 contract

Samples: Investment Advisory Agreement (Carey Credit Income Fund 2015 T)

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