definiens: means the occurrence of any of the following : ( a ) the institution of any bankruptcy, receivership, insolvency, reorganizatio n or other similar proceedings by or against Licens ee under any bankruptcy, insolvency, or other similar law now or hereinafter in effect, including any section or ch apter of the United States Bankruptcy Code, as amended or under any similar laws or statutes of the United States o r any state thereof ( any of the laws described in this clause ( a ), the ), where such proceedings have not been dismissed or discharged within ninety ( 90 ) day s after they are instituted, ( b ) Licensee assigns a ll or a substantial portion of its assets for the benefit o f creditors, ( c ) a receiver or custodian is appoint ed for Licensee ’s business and remains so appointed for at least nine ty ( 90 ) days, ( d ) a substantial portion of Licensee ’s business is subject to attachment or similar process for at lea st ninety ( 90 ) days, or ( e ) anything analogous to a ny of the events described in the foregoing clauses ( a ) through ( d ) occurs under the laws of any applicable jurisdictio n