definiens: means : ( a ) filing in any court or agency pursuant to any statute or regulation of any state or country, a petition in bankruptcy or insolvency or for reorganization or for an arrangement or for the appointment of a receiver or trustee of the Bankrupt Party or of its assets ; ( b ) proposing a written agreement of composition or extension of a Bankrupt Party 's debts ; ( c ) being served with an involuntary petition against the Bankrupt Party, filed in any insolvency proceeding, and such petition shall not be dismissed within [ sixty ( 60 ) ] days after the filing thereof ; ( d ) proposing or being a party to any dissolution or liquidation when insolvent ; or ( e ) making an assignment for the benefit of creditors . Without limitation, the Bankrupt Party 's rights under this Agreement shall include those rights afforded by 11 U.S.c . § 365(n ) of the United States Bankruptcy Code ( the ) and any successor thereto . If the bankruptcy trustee of a Bankrupt Party as a debtor or debtor - in - possession rejects this Agreement under II U.S.c . § 365(0 ) of the USBe, the Other Party may elect to retain its rights licensed from the Bankrupt Party hereunder ( and any other supplementary agreements hereto ) for the duration of this Agreement and avail itself of all rights and remedies to the full extent contemplated by this Agreement and II U.s.c . § 365(n ) of the USBC, and any other relevant laws