Also called the evergreen clause, this is a letter of credit that doesn’t have a distinct expiration date, because while one is included there is this provision that allows it to roll over into different periods. It is only terminated when a financial institution provides a notice of termination.

Previous Terms: 1031 Exchange, 1035 Exchange, AARP, Abeyance, Abstraction Principle, Accelerated Amortization, Acceptance Credit, Acceptance of a Bill of Exchange, Accommodation Bill, Accommodation Endorser