definiens: means : ( a ) filing, inany court or agency pursuant to any statute or regulation of any state or country, ( i ) a petition in bankruptcy orinsolvency, ( ii ) for reorganization or ( iii ) for the appointment of ( or for an arrangement for the appointment of ) a receiveror trustee of the Bankrupt Party or of its assets ; ( b ) with respect to the Bankrupt Party, being served with aninvoluntary petition filed in any insolvency proceeding, which such petition is not dismissed within sixty ( 60 ) days afterthe filing thereof ; ( c ) proposing or being a party to any dissolution or liquidation when insolvent ; or ( d ) making anassignment for the benefit of creditors . Without limitation, the Bankrupt Party ’s rights under this Agreement shallinclude those rights afforded by 11 USAC . § 365(n ) of the United States Bankruptcy Code ( the ) and any successor thereto . If the bankruptcy trustee of a Bankrupt Party as a debtor or debtor - in - possession rejectsthis Agreement under 11 USAC . § 365(o ) of the Bankruptcy Code, the Non - Bankrupt Party may elect to retain itsrights licensed from the Bankrupt Party hereunder ( and any other supplementary agreements hereto ) for the durationof this Agreement and avail itself of all rights and remedies to the full extent contemplated by this Agreement and 11USAC . § 365(n ) of the Bankruptcy Code, and any other relevant Laws