definiens: ~hall mean and include each of the following : ( a ) Columbia ~hall fail to pay any rmliiw.llliollil.[PharmaBio when the ~ame hecome due and pilyable to PhannaBiu ten ( I 0 ) sine ~ s DilYS have elap ~ ed fulluwing receipt of written notice of ~ucli nt from PharmaBio to Columhia ; ( b ) Any tnilterial representatiun or warranty tnilde b : y Colutnbiil under this Agreement shall prove to have been untrue or incorrect in any material respect when made ; ( c ) Columhia shall fail to perf0rl11 or comply with any material agreement or covenant made hy Columbia under this Agreement in any material respect ; ( d ) Columbia shilll sell, assign, liceme, lease or utherwise transfer all or ~ubstantially all of its assets or properties O\vned ( or utherwise held by it ) relating to the Product . in one or a series of related transactiuns, \vithont the prior written consent utPharmaBio ; ( e ) A Market Withdrawal ~hall occur ; ( t ) ived an Approval Letter for the Product from the FDA bC!:=ber 19, 2003.0 ( g ) Culumbia shilll receive a Not Appruvable Letter, and dues nut receive iln Approval Letter for the Prudu<.:1 within 6 munths thereafter ; ( h ) Culumbia ~hall ( i ) commence a vuluntary ca ~ e under the federal bankruptcy law~ ( a~ now or hereafter in effect ), ( ii ) file a petition ~eeking to take advantage of any other Laws relating to hankruptcy, insolvency, reorganization . winding up or composition for adjustment of dehts . ( iii ) coment to or fail to conteq in a timely and appropriate manner any petition filed against it in an involuntary case under ~uch hankruptcy law~ or other Law~, ( iv ) apply for or coment to . or fail to conte ~ t in a timely and appropriate manner, the appointment of, or the taking of po ~ ses ~ ion hy . a receiver, cu ~ todian . trustee, or liquidator of itself or of a ~ubstantial part of its property . ( v ) admit in writing it~ inability to pay it~ dehts a~ they hecome due, ( vi ) make a general as ~ ignment for the henefit of creditor~, or ( vii ) take any corporate action for the purpo ~ e of authori7ing any of the foregoing ; ( i ) A, pw,,,ding, 1,,11 be commenced ngni '' ' ' Colombin in nny, om ' of competent jurisdictiun seeking ( i ) relief under the fedewl bankruptcy law~ ( as mnv or hereafter in effect ) or under any uther Laws relating to bankruptcy