definiens: means any of the following : ( a ) in the event that P enn, CU and/or UFLA, as applicable, receive equity in Co mpany under this Agreement, a material default by Company under any Equity Document, to the extent ap plicable, that is not cured within any cure period specified in the Equity Document(s ), or within thirty ( 30 ) da ys of written notice, if no cure period is specifie d ; ( b ) Company ( i ) becomes insolvent, bankrupt or generall y fails to pay its debts as such debts become due, ( ii ) is adjudicated insolvent or bankrupt, ( iii ) admits in writing its inability to pay its debts, ( iv ) suffer s the appointment of a custodian, receiver or trustee for it or its p roperty and, if appointed without its consent, such appointment is not discharged within thirty ( 30 ) days, ( v ) makes a n assignment for the benefit of creditors, or ( vi ) suffers proceedings being instituted against it under any l aw related to bankruptcy, insolvency, liquidation o r the reorganization, readjustment or release of debtors and, if contested by it, not dismissed or stayed wi thin ten ( 10 ) days ; ( c ) the institution or commencement by Compan y or its Affiliates of any proceeding under any law related to bankruptcy, insolvency, liquidation or the reorg anization, readjustment or release of debtors ; ( d ) the entering of any order for relief relating to any of the proc eedings described in Section 6.4(b ) or ( c ) above ; ( e ) the calling by Company or its Affiliates of a meeting of its cr editors with a view to arranging a composition or a djustment of its debts ; ( f ) the act or failure to act by Comp any or its Affiliates indicating its consent to, ap proval of or acquiescence in any of the proceedings described in Section 6.4(b ) - ( e ) above ; ( g ) dissolution of Com pany or termination of Company ’s LLC Agreement ( unless the entity survives as a S or C corporation ) ; or ( h ) th e commencement by Company of any action against Penn, CU or UFLA, including an action for declaratory judgment, to declare or r ender invalid or unenforceable the Patent Rights, o r any claim thereof