Common use of CONDITIONS TO THE ASSIGNMENT OF THE LEASE IN BANKRUPTCY PROCEEDINGS Clause in Contracts

CONDITIONS TO THE ASSIGNMENT OF THE LEASE IN BANKRUPTCY PROCEEDINGS. If the Trustee or Debtor In Possession has assumed the Lease pursuant to the terms and provisions of Sections 17.01 or 17.02 herein, for the purposes of assigning, or elects to assign the Tenant's interest under this Lease or the estate created thereby, to any other person, such interest or estate may be so assigned only if Landlord shall acknowledge in writing that the intended assignee has provided adequate assurance as defined in this Section 17.04 of future performance of all of the terms, covenants and conditions of this Lease to be performed by Tenant. For purposes of this section, Landlord and Tenant acknowledge that, in the context of a bankruptcy proceeding of Tenant, at a minimum "adequate assurance of future performance" shall mean that each of the following conditions have been satisfied, and Landlord has so acknowledged in writing:

Appears in 1 contract

Samples: Lease (Metavante Corp)

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CONDITIONS TO THE ASSIGNMENT OF THE LEASE IN BANKRUPTCY PROCEEDINGS. If the Trustee or Debtor In Debtor-In-Possession has assumed the Lease pursuant to the terms and provisions of Sections 17.01 Paragraph 16.01 or 17.02 16.02 herein, for the purposes of assigning, assigning (or elects to assign assign) the Tenant's interest under this Lease or the estate created thereby, to any other person, such interest or estate may be so assigned only if Landlord shall acknowledge in writing that the intended assignee has provided adequate assurance as defined in this Section 17.04 16.04 of future performance of all of the terms, covenants and conditions of this Lease to be performed by Tenant. For purposes of this section, Landlord and Tenant acknowledge that, in the context of a bankruptcy proceeding of Tenant, at a minimum "adequate assurance of future performance" shall mean that each of the following conditions have been satisfied, and Landlord has so acknowledged in writing:

Appears in 1 contract

Samples: Lease (Asset Acceptance Capital Corp)

CONDITIONS TO THE ASSIGNMENT OF THE LEASE IN BANKRUPTCY PROCEEDINGS. If the Trustee or Debtor In Debtor-In-Possession has assumed the Lease pursuant to the terms and provisions of Sections 17.01 Paragraphs 20 or 17.02 21 herein, for the purposes purpose of assigning, assigning (or elects to assign assign) the Tenant's interest under this Lease or the estate created thereby, to any other person, such interest or estate may be so assigned only if Landlord shall acknowledge in writing that the intended assignee has provided adequate assurance as defined in this Section 17.04 Paragraph 22 of future performance of all of the terms, covenants and conditions of this Lease to be performed by Tenant. For purposes of this sectionParagraph, Landlord and Tenant acknowledge that, in the context of a bankruptcy proceeding of Tenant, at a minimum "adequate assurance of future performance" shall mean that each of the following conditions have been satisfied, and Landlord has so acknowledged in writing:

Appears in 1 contract

Samples: Lease (Complete Business Solutions Inc)

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CONDITIONS TO THE ASSIGNMENT OF THE LEASE IN BANKRUPTCY PROCEEDINGS. If the Trustee or Debtor In Debtor-In-Possession has assumed the Lease pursuant to the terms and provisions of Sections 17.01 Section 10.01 or 17.02 hereinSection 10.02 hereinabove, for the purposes purpose of assigning, assigning (or elects to assign assign) the Tenant's interest under this Lease or the estate created thereby, to any other person, such interest or estate may be so assigned only if Landlord shall acknowledge in writing that the intended assignee has provided adequate assurance as defined in this Section 17.04 10.03 of future performance of all of the terms, covenants and conditions of this Lease to be performed by Tenant. For purposes of this sectionSection 10.03, Landlord and Tenant acknowledge that, in the context of a bankruptcy proceeding of Tenant, at a minimum "adequate assurance of future performance" shall mean mean, in addition to the adequate assurances set forth in Bankruptcy Code Section 365, that each of the following conditions have been satisfied, and Landlord has so acknowledged in writing:

Appears in 1 contract

Samples: Lease Agreement (Michigan Heritage Bancorp Inc)

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