definiens: - improvements, modifications or adaptations to Kn ow How . – in relation to either Party, means any one of th e following : ( i ) a notice shall have been issued to convene a meetin g for the purpose of passing a resolution to wind up that Party, or such a resolution shall have been passed other than a resolution for the solvent reconstruction or reorgan isation of that Party ; or ( ii ) a resolution shall have been passed by that Party ’s directors to seek a winding up or a petition for a winding up shall have been presented against that Party which, in the case of a petition presented against a Party, shall not have been appealed within seven ( 7 ) days of having been lodged or such an order shall have been made and sh all have been dismissed within thirty ( 30 ) days thereafter ; or ( iii ) a receiver, administrative receiver, receiver and manager, interim receiver, custodian, sequestrator or similar officer is appointed in res pect of that Party or an encumbrancer takes steps to enforce or enforces its security which sha ll not have been dismissed by a court of competent jurisdiction within thirty ( 30 ) days thereafter ; or 4 ( iv ) a resolution shall have been passed by that Party o r that Party ’s directors to make an application for an administration order or to appoint an admini strator, or ( ii ) an application for an administration order shall have been made to the court or a notice of appointment o f an administrator shall have been filed at the court in respect of that Party, which in the case of such an application made to the court or notice filed wi th the court, shall not have been appealed withi n seven ( 7 ) days of having been made or filed or su ch an order or appointment shall have been dismissed within thirty ( 30 ) days thereafter ; or ( v ) a proposal for a voluntary arrangement shall have b een made in relation to that Party under Part I Insolvency Act 1986 ; or ( vi ) a step or event shall have been taken or have arise n outside the United Kingdom which is similar or analogous to any of the steps or events listed a t ( i ) to ( v ) above ; or ( vii ) that Party takes any step ( including start ing negotiations ) with a view to readjustment, rescheduling or deferral of any part of that Party ’ s indebtedness, or proposes or makes any general assignment, composition or arrangement with or for the benefit of all or some of that Party ’s creditors or ma kes or suspends or threatens to suspend making paym ents to all or some of that Party ’s creditors or the Party submits to a ny type of voluntary arrangement ; or ( viii ) where that Party is resident in the United K ingdom it is deemed to be unable to pay its debts within the meaning of Section 123 Insolvency Act 19 86