Common use of Assumption or Assignment by Trustee Clause in Contracts

Assumption or Assignment by Trustee. In the event Lessee becomes the subject debtor in a case pending under the Bankruptcy Code, Lessor's right to terminate this Lease pursuant to this Section 23 shall be subject to the rights of the Trustee in bankruptcy to assume or assign this Lease. The Trustee shall not have the right to assume or assign this Lease unless the Trustee (a) promptly cures all defaults under this Lease, (b) promptly compensates Lessor for monetary damages incurred as a result of such default, (c) provides "adequate assurance of future performance" (as hereinafter defined) and (d) complies with the provisions of Section 7 hereof.

Assumption or Assignment by Trustee. (i) In the event Lessee becomes the subject debtor in a case pending under the Bankruptcy Code, Lessor's right to terminate this Lease pursuant to this Section 23 Paragraph 21(a)(i), shall be subject to the rights of the Trustee in bankruptcy to assume or assign this Lease. The Trustee shall not have the right to assume or assign this Lease unless the Trustee (a) promptly cures all defaults under this Lease, (b) promptly compensates Lessor for monetary damages incurred as a result of such default, and (c) provides "adequate assurance of future performance" (as hereinafter defined) and (d) complies with the provisions of Section 7 hereof).