Bankruptcy Events

1. a resolution is passed for the winding up of the Reference Entity by the shareholders of the Reference Entity;
2. an order is made to extinct the Reference Entity in the commercial registry by any court or other authority of competent jurisdiction;
3. an order is made for the winding up of the Reference Entity, by the court or other authority of competent jurisdiction;
4. an ordinary bankruptcy proceeding or a bankruptcy proceeding to enforce a bill of exchange, a bankruptcy proceeding without prior enforcement proceedings or a bankruptcy proceeding pursuant to art. 725 et seq. of the Swiss Code of Obligations is opened by any court or other authority of competent jurisdiction;
5. an agreement with creditors, a composition agreement, an amicable private settlement of debts or a moratorium is approved by any court or other authority of competent jurisdiction;
6. any event with consequences similar or analogous to any of those referred to in (i) to (v) (inclusive) above occurs in any jurisdiction outside Switzerland.