Books and Journals Chapter XXI Executory Contracts and Unexpired Leases

Chapter XXI Executory Contracts and Unexpired Leases

Document Cited Authorities (33) Cited in Related
CHAPTER XXI Executory Contracts and Unexpired Leases

Daniel C. Bruton
Bell Davis & Pitt, PA
Winston-Salem, North Carolina

Thomas C. Flippin
Law Offices of Thomas C. Flippin, PC
Elkin, North Carolina

William P. Janvier
Stevens Martin Vaughn & Tadych, PLLC
Raleigh, North Carolina

Kathleen O'Malley
Stevens Martin Vaughn & Tadych, PLLC
Raleigh, North Carolina

CHAPTER XXI
Executory Contracts and Unexpired Leases

I. INTRODUCTION

II. DEFINITION OF EXECUTORY CONTRACT

A. No Code Definition of "Executory Contract"

B. The Countryman Definition

C. Variations on the Countryman Definition

III. PRE-PETITION TERMINATION OF EXECUTORY CONTRACTS AND UNEXPIRED LEASES

A. Existence of Contract or Lease

B. Bankruptcy Termination Clauses

IV. REJECTION OR ASSUMPTION OF EXECUTORY CONTRACTS

A. Section 365 Generally

1. Time Limits for Assumption or Rejection

3. Contracts to Make Loans

4. Manner of Assumption or Rejection

B. Assumption of Executory Contracts

1. Prerequisites for Assumption

2. Effect of Assumption

C. Rejection of Executory Contracts

1. Standards of Rejection

D. Effect of Rejection

1. Assumption Followed by Rejection

2. Limitations on the Amount of Claims Arising Out of Rejection

3. Lifting of Automatic Stay With Respect to Personal Property Leases XXI-17

E. Assignment of Executory Contracts

1. Assumption in Compliance With Section 365

2. Adequate Assurance by Assignee of Future Performance

3. Procedure for Assignment of Executory Contracts

4. Liability of Trustee After Assignment

V. UNEXPIRED LEASES IN BANKRUPTCY

A. Generally

1. State Law Governs Absent a Specific Bankruptcy Provision

2. Lease Includes Any Rental of Real Property

B. Performance of Lease Obligations Pending Assumption or Rejection

C. Leases of Real Property in Shopping Centers

1. Definition of "Shopping Center"

2. Adequate Assurance of Future Performance of a Shopping Center Lease

D. Providing Services and Supplies Under Defaulted Lease Pending Assumption or Rejection

E. Rejection of Unexpired Leases

1. The Lessor's Claim Upon Rejection

2. Measuring Administrative Rent

3. Limited Administrative Claim Following Post-Assumption Rejection

4. Surrender of Premises Upon Rejection

F. Lessor May Require Deposit by Assignee

G. The Debtor as Lessor

1. Effect of Rejection by Debtor/Lessor

2. Lessee Alternatives Upon Rejection by Debtor/Lessor

VI. LICENSEES OF INTELLECTUAL PROPERTY

VII. COMMITMENTS TO FEDERAL AGENCIES

Statutory References

11 U.S.C. § 365(b)(1)(C)
11 U.S.C. § 365(b)(2)
11 U.S.C. § 365(b)(2)(D)
11 U.S.C. §...

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