Common use of General Events of Default Clause in Contracts

General Events of Default. In the event that either: (a) any representation, warranty, certification, assurance or any other statement of fact contained in this Agreement or the Application of the Participating State including, but not limited to, the Assurances (Non-Construction) contained as part of the Application, or any representation or warranty set forth in any document, report, certificate, financial statement or instrument now or hereafter delivered to Treasury in connection with this Agreement, is found to be inaccurate, false, incomplete or misleading when made, in any material respect; or (b) the Participating State materially fails to observe, comply with, meet or perform any term, covenant, agreement or other provision contained in this Agreement including, but not limited to, the Participating State’s failure to submit complete and timely quarterly reports or annual reports, or the Participating State ceases to use the Allocated Funds to undertake the activities authorized in Annex 1 attached hereto; Treasury, in its sole discretion, may find the Participating State to be in default.

General Events of Default. In the event that either: (a) : any representation, warranty, certification, assurance or any other statement of fact contained in this Agreement or the Application of the any Participating State Municipality including, but not limited to, the Assurances (Non-Construction) contained as part of the Application, or any representation or warranty set forth in any document, report, certificate, financial statement or instrument now or hereafter delivered to Treasury in connection with this Agreement, is found to be inaccurate, false, incomplete or misleading when made, in any material respect; or (b) the or any Participating State Municipality materially fails to observe, comply with, meet or perform any term, covenant, agreement or other provision contained in this Agreement including, but not limited to, the any Participating StateMunicipality’s failure to submit complete and timely quarterly reports or annual reports, or the any Participating State Municipality ceases to use the Allocated Funds to undertake the activities authorized in Annex 1 attached hereto; Treasury, in its sole discretion, may find any or all of the Participating State Municipalities to be in default.