Common use of Authority Event of Default Clause in Contracts

Authority Event of Default. The Authority Event of Default means any of the following events unless such an event has occurred as a consequence of a Concessionaire Event of Default or a Force Majeure Event (the “Authority Event of Default”). (i) The Authority’s repudiation or failure to perform or discharge any of its obligations in accordance with the provisions of this Agreement that has a Material Adverse Effect unless such failure has occurred as a consequence of a Concessionaire Event of Default or a Force Majeure Event; (ii) Any representation made or warranties given by the Authority under this Agreement is found to be false or misleading; any defect in the Authority’s title, ownership and possession of the site.

Authority Event of Default. The Authority Event of Default means any of the following events unless such an event has occurred as a consequence of a Concessionaire Event of Default or a Force Majeure Event (the “Authority Event of Default”). (i) The Authority’s repudiation or failure to perform or discharge any of its obligations in accordance with the provisions of this Agreement that has a Material Adverse Effect unless such failure has occurred as a consequence of a Concessionaire concessionaire Event of Default or a Force Majeure Event; (ii) Any representation made or warranties given by the Authority under this Agreement is found to be false or misleading; any defect in the Authority’s title, ownership and possession of the site.