definiens: means the occurrence of any of thefollowing : ( a ) the institution of any bankruptcy, receivership, insolvency, reorganization or other similarproceedings by or against a Party under any bankruptcy, insolvency, or other similar law now or hereinafter ineffect, including any section or chapter of the United States Bankruptcy Code, as amended or under any similarlaws or statutes of the United States or any state thereof ( the ), where in the case ofinvoluntary proceedings such proceedings have not been dismissed or discharged within ninety ( 90 ) days afterthey are instituted, ( b ) the filing of an insolvency proceeding or making of an assignment for the benefit ofcreditors, ( c ) appointment of a receiver for all or substantially all of a Party ’s assets or ( d ) any corporate actiontaken by the board of directors of a Party in furtherance of any of the foregoing actions