definiens: means the occurrence of any of the following : ( a ) the institution of any bankruptcy, receivership, insolvency, reorganization or other similar proceedings by or against a Party under any bankruptcy, insolvency, or other similar law now or hereinafter in ef fect, including any section or chapter of the United States Bankruptcy Code, as amended or under any similar laws or statutes of the United States or any state thereof ( the ), where in the case of involuntary proceedings such proceedings h ave not been dismissed or discharged within [ * * * ] after they are instituted, ( b ) the insolvency or making of an assignment for the benefit of creditors or the admittance by a Party of any involuntary debts as they mature, ( c ) the institution of any reorgan ization, arrangement or other readjustment of debt plan of a Party not involving the Bankruptcy Code, ( d ) appointment of a receiver for all or substantially all of a Party ’s assets, or ( e ) any corporate action taken by the board of directors of a Party in furtherance of any of the foregoing actions