definiens: means the occurrence of any of the following in respect of a Person : ( i ) an admission in writing bysuch Person of its inability to pay its debts generally or a general assignment by such Person for the benefit of creditors;(ii ) the filing of any petition or answer by such Person seeking to adjudicate itself as bankrupt or insolvent, or seeking foritself any liquidation, winding - up, reorganization, arrangement, adjustment, protection, relief or composition of such Personor its debts under any law relating to bankruptcy, insolvency, receivership, winding - up, liquidation, reorganization, examination, relief of debtors or other similar law now or hereafter in effect, or seeking, consenting to or acquiescing in theentry of an order for relief in any case under any such law, or the appointment of or taking possession by a1 receiver, trustee, custodian, liquidator, examiner, assignee, sequestrator or other similar official for such Person or for anysubstantial part of its property ; ( iii ) corporate or other entity action taken by such Person to authorize any of the actions setforth in clause ( i ) or clause ( ii ) above ; or ( iv ) without the consent or acquiescence of such Person, the entering of an order forrelief or approving a petition for relief or reorganization or any other petition seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution or other similar relief under any present or future bankruptcy, insolvencyor similar statute, law or regulation, or the filing of any such petition against such Person, or, without the consent oracquiescence of such Person, the entering of an order appointing a trustee, custodian, receiver or liquidator of such Person orof all or any substantial part of the property of such Person, in each case where such petition or order shall remain unstayed orshall not have been stayed or dismissed within 90 days from entry thereof