definiens: means any of the following : 3 1.24.1 If LICENSEE becomes insolve nt, bankrupt or generally fails to pay its debts as such debts become due ; is adjudicated insolvent or bankrupt ; admits in writing its inabil ity to pay its debts ; or shall suffer a custodian, receiver or tru stee for it or substantially all of its property to be appointed and, if appointed without its consent, not be discharged within thirty ( 30 ) days ; makes an Assignment for t he benefit of creditors ; or suffers proceedings under any law related to bankruptcy, insolvency, liquidation or t he reorganization, readjustment or the release of debt ors to be instituted against it and, if contested b y it, not dismissed or stayed within ten ( 10 ) days ; 1.24.2 If proceedings under any la w related to bankruptcy, insolvency, liquidation, or the reorganization, readjustment or the release of debtors are instituted or commenced by LICENSEE ; 1.24.3 If LICENSEE shall by any ac t or failure to act indicate its consent to, approval of or acquiescence in any of the proce edings described in Sections 1.24.1 or 1.24.2 ; or [ NOTE : The bankruptcy of a Sublicensee or an Affiliate may hav e no effect whatsoever on NewLink ’s ability to perf orm its obligations tinder this Agreement