definiens: means : ( a ) a voluntary case or proceeding under any app licable bankruptcy, insolvency, or other similar law is commenced by such Party, or such Par ty consents to the entry of an order for relief in an involuntary case or proceeding under any such law or against su ch Party, or such Party consents to the appointment of or taking possession by a receiver, liquidator, assignee, tru stee, custodian, sequestrator, conservator, supervi sor, rehabilitator ( or other similar official ) of such Party or for an y material portion of such Party ’s assets and prope rties, or such Party makes a general assignment for the benefit of creditors ; ( b ) the commencement of an involuntary case or proceeding under any applicable bankruptcy, insolvency, or other similar law against such Party, and such case or proceeding is not dismissed with in ninety ( 90 ) calendar days ; ( c ) the entry by a Regulatory Authority having jurisdiction over such Party of a decree or order appointing a receiver, liquidator, assignee, custodian, trustee, sequestrator, conservator, supe rvisor, rehabilitator ( or similar official ) for such Party or for any material portion of such Person ’s assets and properties, or ordering the winding - up, supervision, or liquida tion of such Party ’s affairs ; or ( d ) the taking of any formal action by such Par ty, its board of directors ( or similar governing body ) or holders of its voting securities authorizi ng any of the foregoing