definiens: means the occurrence of any of the following : ( a ) t he institu tion of any bankruptcy, receivership, insolvency, reorganization or other similar proceedings by or against a Party under any bankruptcy, insolvency, or other similar law now or hereinafter in effect, including any section or chapter of the United States B ankruptcy Code, as amended or under any similar laws or statutes of the United States or any state thereof ( the ), where in the case of involuntary proceedings such proceedings have not been dismissed or discharged within [ * * * * * ] days afte r they are instituted, ( b ) the insolvency or making of an assignment for the benefit of creditors or the admittance by a Party of any involuntary debts as they mature, ( c ) the institution of any reorganization, arrangement or other readjustment of debt pla n of a Party not involving the Bankruptcy Code, ( d ) appointment of a receiver for all or substantially all of a Party ’s assets, or ( e ) any corporate action taken by the board of directors of a Party in furtherance of any of the foregoing actions