definiens: means an event in which either Party ( i ) files for protection underbankruptcy or insolvency laws, including a request for the postponement of the opening of bankruptcy proceedings(Antrag auf Konkursaufschub ), ( ii ) makes an assignment for the benefit of creditors, ( iii ) appoints or suffersappointment of a receiver or trustee over substantially all of its property that is not discharged within thirty ( 30 ) daysafter such filing, ( iv ) proposes a written agreement of composition or extension of its debts, ( v ) is declared bankrupt(Konkurs / faillite ) or has been granted a moratorium ( Nachlassstundung / sursis concordataire ) in each case notdischarged within thirty ( 30 ) days, ( vi ) is over - indebted ( überschuldet ) within the meaning of art . 725 para . 2 CO or ( vii)is unable to pay its debts as they fall due ( zahlungsunfähig ) within the meaning of art . 190 para . 1sub - para . 2 of theSwiss Federal Act on Debt Enforcement and Bankruptcy