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CM VOW (i) by its admitting in writing its inability to pay its debts generally as they become due, or (ii) by its filing a petition in bankruptcy or for reorganization or for the adoption of an arrange- ment under the Bankruptcy Act (as now existing or in the future amended) or an answer or other pleading admitting the material allegations of such a petition or seeking, consenting to or acquiescing in the relief provided for under such Act, or (iii) by its making an assignment of all or a substantial part of its property for the benefit of its creditors, or (iv) by its seeking or consenting to or acquiescing in the appointment of a receiver or trustee for all or a substantial part of its property or of the leased premises or of its interest in this Lease and Agree- ment, or (v) by its being adjudicated a bankrupt or insolvent, or (vi) by the entry of a court order without its consent which order shall not be vacated, set aside or stayed within ninety (90) days from the date of entry (1) appointing a receiver or trustee for all or a substantial part of its property or (2) approving a petition filed against it for the effecting of an arrangement in bankruptcy or for a reorganization pursuant to said Bankruptcy Act or for any other judicial .modification or alteration of the rights of creditors; then: In any such event, Lessor shall have the right at its election, then or at any time thereafter while such event of default shall continue, either (1) To give Lessee notice of intention to terminate this Lease and Agreement on the date of such notice or on any later date specified therein, and on the date specified in such notice Lessee's ria'nt to possession of the 'Leased premises shall cease and this Lease and Agreement shall there- upon be terminated, or (2) Without demand or notice, to re-enter and take possession of the premises or any part thereof and repossess the same as of Lessor's