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 othersimilar law now or hereinafter in eﬀect, including any section or chapter of the United States Bankruptcy Code, as amended or underany similar laws or statutes of the United States or any state thereof ( the ), where in the case of involuntaryproceedings such proceedings have not been dismissed or discharged within [ * * * ] after they are instituted, ( b ) the insolvency or makingof an assignment for the beneﬁt of creditors or the admittance by a Party of any involuntary debts as they mature, ( c ) the institution ofany reorganization, arrangement or other readjustment of debt plan of a Party not involving the Bankruptcy Code, ( d ) appointment of areceiver for all or substantially all of a Party ’s assets, or ( e ) any corporate action taken by the board of directors of a Party infurtherance of any of the foregoing actions