definiens: means, in respect of a party : ( a)a bankruptcy administrator or other external administrator being appointed to theparty ; ( b)(i)the party resolving to appoint a receiver, receiver and manager or analogousPerson to the party or the party ’s property ; or(ii)a receiver, receiver and manager, provisional liquidator, trustee for creditors or in bankruptcy or analogous Person is appointed to the partyor the party ’s property ; ( c)the holder of a security interest or any agent on its behalf appointing a receiver, receiver and manager or analogous Person, or taking possession of the party’sproperty ; ( d)the party failing to comply or being taken to have failed to comply with a statutorydemand ; ( e)an order being made, or the party passing a resolution, for its winding up orplacing of that party into liquidation or bankruptcy ; ( f)the party ceasing to carry on all or a material part of its business, being unable topay its debts when they are due, or being or becoming otherwise insolvent ; ( g)the party entering into an assignment for the benefit of any of its creditors ; or ( h)any analogous event under the Laws of any applicable jurisdiction, 6 unless this takes place as part of business in the ordinary course, a solventreconstruction, amalgamation, merger or consolidation, or in the case of any proceedingdescribed above, unless such proceeding is stayed or dismissed within sixty ( 60 ) daysafter it is brought