definiens: shall mean, in relation to either Party, any one of the following:12.1.5.1 a notice shall have been issued to convene a meeting for the purpose of passinga resolution to wind up that Party or such resolution shall have been passedother than a resolution for the solvent reconstruction or reorganisation of thatParty ; or12.1.5.2a resolution shall have been passed by that Party 's directors to seek a windingup or an administration order or a petition for a winding up or administrationorder shall have been presented against that Party which, in the case of apetition presented against a Party, shall not have been appealed within 7 daysof having been lodged or such an order shall have been made and shall havebeen dismissed within thirty ( 30 ) days thereafter ; or12.1.5.3a receiver, administrative receiver, receiver and manager, interim receiver, custodian, sequestrator or similar officer is appointed in respect of that Party or over a substantial part of its assets or any third party takes steps to appointsuch an officer in respect of that Party or an encumbrancer takes steps toenforce and enforces its security which shall not have been dismissed by acourt of competent jurisdiction within thirty ( 30 ) days thereafter ; or12.1.5.4a proposal for a voluntary arrangement shall have been made in relation tothat Party under Part I Insolvency Act 1986 ; or12.1.5.5a step or event shall have been taken or arisen outside the United Kingdomwhich is similar or analogous to any of the steps or events listed at 12.1.5.1through 12.1.5.4 above in the case of Columbia under the laws of Bermuda, which, in the case of a filing made against a Party, shall not have beenappealed within 7 days of having been lodged or such an order shall havebeen made and dismissed within thirty ( 30 ) days thereafter ; or12.1.5.6that Party takes any step ( including, but not limited to, starting negotiations)with a view to readjustment, rescheduling or deferral of any part of thatParty 's indebtedness, or proposes or makes any general assignment, composition or arrangements with or for the benefit of all or some of thatParty 's creditors or makes or suspends or threatens to suspend makingpayments to all or some of that Party 's creditors or the Party submits to anytype of voluntary arrangement ; or12.1.5.7where that Party is resident in the United Kingdom it is deemed to be unableto pay its debts within the meaning of Section 123 Insolvency Act 1986;12.2The obligations of Columbia in this Agreement for supply of Product to Urology Company shallterminate upon assignment by Columbia of the Mipharm Agreement with respect to the Territory toUrology Company, or termination of the Mipharm Agreement in the Territory