definiens: means the occurrence of any of the following : ( a ) the institution of any bankruptcy, receivership, insolvency, reorganization or other s imilar proceedings by or against a Party under any bankruptcy, insolvency, or other similar law no w or hereinafter in effect, including any section or chapter of the United States Bankruptcy Code, as amended or under any similar laws or statutes of the United States or any state there of ( the ), where in the case of involuntary proceedings such proceedings have no t been dismissed or discharged within ninety ( 90 ) days after they are instituted, ( b ) the insolvency or making of an assignment for the benefit of creditors or the admittance by a Party o f any involuntary debts as they mature, ( c ) the institution * Information redacted pursuant to a confidential treatment request by Gemphire Therapeutics Inc. und er 5 U.S.C