definiens: means the existence or occurrence of any one or more of the following events : ( i ) [COMPANY] becomes insolvent ( however defined or evidenced ), makes an assignment for the benefit ofcreditors, or calls a meeting of its principal creditors to discuss any adjustment of its debts ; ( ii ) a case or proceeding under Title 11 of the United States Code entitled as amended fromtime to time ( the ) or under any insolvency, reorganization, receivership, readjustment ofdebt, dissolution or liquidation law or statutes of any jurisdiction now or hereafter in effect ( whether at law or inequity ) is filed against [COMPANY] or all or any part of [COMPANY] ’s properties and such petition or application isnot dismissed within thirty ( 30 ) days after the date of its filing, [COMPANY] shall file any answer admitting to or notcontesting such petition or application or indicates its consent to, acquiescence in or approval of, any suchaction or proceeding or the relief requested is granted sooner ; ( iii ) a case or proceeding under the Bankruptcy Code or under any insolvency, reorganization, receivership, readjustment of debt, dissolution or liquidation law or statute of any jurisdiction now or hereafter in effect ( whetherat law or in equity ) is filed by [COMPANY] for all or any part of [COMPANY] ’s property or ( iv ) a breach by [COMPANY] of its obligations under this Option Agreement