definiens: shall mean the occurrence of any one or more of the following events ( regardlessof the reasons therefor ) ( a ) Parent ’s or Purchaser ’s failure to pay or discharge its obligations in full in accordance with theterms of the promissory note, ( b ) Parent ’s or Purchaser ’s failure to observe or perform any other material covenant, obligation, condition or agreement contained in the promissory note which failure remains unremedied for more than thirty ( 30 ) days afterwritten notice of such failure has been delivered to Parent or Purchaser, ( c ) the commission of any act of bankruptcy by Parentor Purchaser, the execution by Parent or Purchaser of a general assignment for the benefit of creditors, the filing by or against A-5.Parent or Purchaser of a petition in bankruptcy or any petition for relief under the federal bankruptcy act and the continuationof such petition without dismissal for a period of ninety ( 90 ) days or more, or the appointment of a receiver or trustee to takepossession of the property or assets of Parent or Purchaser, or ( d ) the liquidation, dissolution or winding up of Parent orPurchaser, whether voluntary or involuntary