definiens: Material breach " defined as the default of any material obligation hereunder by, either the licensor or the Licensee, which has not been remedied within sixty ( 60 ) days after one Party sends written notice detailing the substance of the default to the defaulting Party, or 9.2.1.2 . meaning the insolvency, bankruptcy, dissolution or liquidation of the other Party, where such party is subject to the fiUng or consents to the filing of a petition under any bankruptcy or insolvency law or has any such petition filed against it which has not been dismissed within ninety ( 90 ) days of such filing, appointment of a trustee, administrator, or receiver for all or substantially all of the assets of such Party, or assignment of the assets of such Party for the benefit of creditors, or attachment or expropriation of the business or assets of such Party, or 9.2.1.3 . meaning that despite the commercially reasonable efforts of the Parties, the Parties are unable to resolve disputes as provided herein