Immediate Termination by Lead State. The Lead State may terminate the Master Agreement for any one or more of the following reasons effective immediately without advance notice: i. In the event the Contractor is required to be certified or licensed as a condition precedent to providing the Services, the revocation or loss of such license or certification may result in immediate termination of the Master Agreement effective as of the date on which the license or certification is no longer in effect; ii. The Contractor furnished any statement, representation or certification in connection with the Master Agreement or the bidding process which is materially false, deceptive, incorrect or incomplete; and/or iii. The Contractor becomes subject to any bankruptcy or insolvency proceeding under federal or state law to the extent allowed by applicable federal or state law including bankruptcy laws; the Contractor terminates or suspends its business; or the Lead State reasonably believes that the Contractor has become insolvent or unable to pay its obligations as they accrue consistent with applicable federal or state law.
Appears in 6 contracts
Samples: Cooperative Master Agreement, Cooperative Master Agreement, Cooperative Master Agreement
