definiens: means with respect to a Party : ( i ) such Party makes a general assignment for the benefit of creditors ; ( ii ) suchParty files an insolvency petition in bankruptcy ; ( iii ) such Party petitions for or acquiesces in the appointment of any receiver, trustee or similarofficer to liquidate or conserve its business or any substantial part of its assets ; ( iv ) such Party commences under the laws of any jurisdictionany proceeding involving its insolvency, bankruptcy, reorganization, adjustment of debt, dissolution, liquidation or any other similar proceedingfor the release of financially distressed debtors, or the Board of Directors of such Party votes to commence any such proceeding ; or ( v ) suchParty becomes a party to any proceeding or action of the type described above and such proceeding or action remains undismissed or unstayedfor a period of more than sixty ( 60 ) days