definiens: means, in relation to either Party, any of the fo llowing : ( a ) that Party becomes Insolvent ; ( b ) that Party shall commence any case, proceeding or other action ( i ) under any existing o r future law of any jurisdiction relating to bankruptcy, insolve ncy, reorganization or relief of debtors, seeking t o have an order for relief entered with respect to it, or see king to adjudicate it as bankrupt or Insolvent, or seeking reorganization, arrangement, adjustment, winding - up, liquidation, dissolution, composition or other re lief with respect to it or its debts, or ( ii ) seeking appoint ment of a receiver, trustee, custodian, conservator or other similar official for it or for all or any substantial part of its assets, or any such Party shall make a gener al assignment for the benefit of its creditors ; ( c ) there shall be co mmenced against such Party any case, proceeding or other action of a nature referred to in clause ( b ) above that ( i ) results in the entry of an order for relief or an y such adjudication or appointment, or ( ii ) remains undism issed, undischarged or unbonded for a period of six ty ( 60 ) days ; ( d ) there shall be commenced against such Par ty any case, proceeding or other action seeking iss uance of a warrant of attachment, execution, distraint or simi lar process against all or any substantial part of its assets that results in the entry of an order for any such relie f that shall not have been vacated, discharged, or stayed or bonded pending appeal within sixty ( 60 ) days from t he entry thereof ; or ( e ) such Party shall take any action in furtherance of, or indicating its consent to, appro val of, or acquiescence in, any of the acts set for th in clauses ( b ), ( c ) or ( d ) above