definiens: means the occurrence of any of the following : ( a ) the institu tion of any bankruptcy, receivership, insolvency, reorganization or other similar proceedings by or a gainst a Party under any bankruptcy, insolvency, or other similar law now or hereinafter in effect, including any section or chapter of the United States Bankruptcy Code, as amended or under any sim ilar laws or statutes of the United States or any state thereof ( the ), where in the case of involuntary proceedings suc h proceedings have not been dismissed or discharged w ithin [ * * * ] ( [ * * * ] ) days after they are instituted ; ( b ) the insolvency or making of an assi gnment for the benefit of creditors or the admittance by a Party of any involuntary debts as t hey mature ; ( c ) the institution of any reorganization, arrangement or other readjustment o f 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 dire ctors of a Party in furtherance of any of the foregoing actions