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This document is a motion filed by Midwest Marketing Group, Inc. requesting the court's approval to assume and assign an unexpired lease of nonresidential real property to Selectel, Inc. as part of
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How to fill out MIDWEST MARKETING GROUP, INC.'S MOTION TO ASSUME AND ASSIGN UNEXPIRED LEASE OF NONRESIDENTIAL REAL PROPERTY
01
Obtain a copy of the MIDWEST MARKETING GROUP, INC.'S MOTION TO ASSUME AND ASSIGN UNEXPIRED LEASE OF NONRESIDENTIAL REAL PROPERTY form.
02
Carefully read the instructions provided in the form and any accompanying documentation.
03
Fill out the header with the relevant case information including the court name, case number, and the title of the motion.
04
Provide details about the unexpired lease, including the property address, lease terms, and identifying parties.
05
Indicate the reasons for assuming and assigning the lease, including any benefits to the estate.
06
Attach any necessary supporting documents, such as the original lease agreement and relevant financial information.
07
Review the motion for accuracy and completeness.
08
Sign and date the motion in the designated area.
09
File the completed motion with the appropriate court and serve it to all interested parties as required by local rules.
Who needs MIDWEST MARKETING GROUP, INC.'S MOTION TO ASSUME AND ASSIGN UNEXPIRED LEASE OF NONRESIDENTIAL REAL PROPERTY?
01
Individuals or entities involved in bankruptcy proceedings who are seeking to assume or assign their lease.
02
Creditors interested in the status of existing leases held by MIDWEST MARKETING GROUP, INC.
03
Potential lessees looking to take over the lease from MIDWEST MARKETING GROUP, INC.
04
Legal representatives managing the estate of MIDWEST MARKETING GROUP, INC.
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People Also Ask about
What does it mean to reject something?
: to refuse to accept, consider, submit to, take for some purpose, or use. rejected the suggestion. reject a manuscript. b. : to refuse to hear, receive, or admit : rebuff, repel.
What are executory contracts and unexpired leases?
Executory contracts are those in which both parties still have significant remaining performance obligations. Examples are supply contracts, purchase agreements, employment contracts and service contracts. Unexpired leases are those in which the tenant and has remaining occupancy rights and lease payments.
What does it mean to reject a lease?
Lease rejection is similar to termination and allows tenants to avoid performing their future lease obligations while leaving landlords with only general unsecured claims, which, as noted in earlier issues, generally will not have meaningful value.
What is a rejected lease?
Rejection is considered a breach, not a termination, of the lease, but the effect is that the debtor-tenant vacates and surrenders the leased premises.
What is a motion to compel assumption or rejection of executory contract?
This motion is intended for use by a non-debtor counterparty in a bankruptcy case under section 365(d)(2) of the Bankruptcy Code. It seeks to shorten the time for the debtor to make a decision, thereby reducing the uncertainty and potential harm the non-debtor faces while performance is stayed.
What are the damages for lease rejection?
If the debtor-tenant seeks to terminate and surrender the lease, that is “reject it”, the landlord may be entitled to a “rejection damage” claim. A landlord is not entitled to the full amount of unpaid obligations for the balance of the lease.
What is the deadline to assume or reject an executory contract?
Contracts must be assumed within 60 days or deemed rejected; unless extension of time granted within the 60 day period. See § 365(d)(1); Cameron v.
What does it mean to repudiate a lease?
REPUDIATION DEFINED. An act of contractual repudiation occurs when a party puts "himself' in breach by evincing an intention, by words or conduct, of repudiating his obligations under the ~ontract".
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What is MIDWEST MARKETING GROUP, INC.'S MOTION TO ASSUME AND ASSIGN UNEXPIRED LEASE OF NONRESIDENTIAL REAL PROPERTY?
It is a legal request by MIDWEST MARKETING GROUP, INC. to take over and transfer the existing lease of a nonresidential property during its bankruptcy proceedings.
Who is required to file MIDWEST MARKETING GROUP, INC.'S MOTION TO ASSUME AND ASSIGN UNEXPIRED LEASE OF NONRESIDENTIAL REAL PROPERTY?
MIDWEST MARKETING GROUP, INC. is required to file the motion as part of its bankruptcy process to manage its assets and liabilities.
How to fill out MIDWEST MARKETING GROUP, INC.'S MOTION TO ASSUME AND ASSIGN UNEXPIRED LEASE OF NONRESIDENTIAL REAL PROPERTY?
The motion should be completed by providing relevant case details, property description, lease terms, and justification for the assumption and assignment.
What is the purpose of MIDWEST MARKETING GROUP, INC.'S MOTION TO ASSUME AND ASSIGN UNEXPIRED LEASE OF NONRESIDENTIAL REAL PROPERTY?
The purpose is to allow the company to continue utilizing a property essential for its operations while potentially transferring the lease to a suitable buyer or party.
What information must be reported on MIDWEST MARKETING GROUP, INC.'S MOTION TO ASSUME AND ASSIGN UNEXPIRED LEASE OF NONRESIDENTIAL REAL PROPERTY?
The motion must report property details, current lease terms, any defaults, proposed assignee information, and reasons for assumption and assignment.
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