definiens: as defined under Section 101(56 ) of the Bankruptcy Code . The parties agree DCB, as a licensee of such rights and licenses, shall retain and may fully exercise all of its rights and elections under the Bankruptcy Code . The parties further agree that, in the event that any proceeding shall 15 USIDOCS 5545146vl 1 0 : / \ be instituted by or against SEPRACOR seeking to adjudicate it bankrupt or insolvent, or seeking liquidation, winding up, reorganization, arrangement, adjustment, protection, relief of composition of it or its debts under any law relating to bankruptcy, insoivency or reorganizati ~ n or relief of debtors, or seeking an entry of an order for relief or the appointment of a receiver, trustee or other similar official for it or any substantial part of its property or it shall take any action to authorize any of the foregoing actions ( each a '' Proceeding '' ), [COMPANY] shall have the right to retain and enforce its rights under this