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landlord was the purchaser and the terms of sale required the premises to be vacant and free of occupants. The landlord was willing to pay $150,000 to purchase the lease. As the lease was property of the estate, the trustee was free to assume and assign it. The debtor was unable to point the court to any applicable non-bankruptcy law that would prohibit eviction of the debtor after the sale.
2.5 Deadline.
Outside § 365(d)(4), the Code and Rules do not set a deadline for assumption or rejection. The non-debtor may seek a court order directing the decision by a date certain. In a case involving an agreement by the debtor and others to indemnify a private party for its efforts in remediating an environmental hazard, the non debtor sought a deadline for assumption or rejection. Assumption would have required the debtor to pay its share of the joint-and-several liability cost. Without discussing whether an indemnification agreement is an executory contract, and after denying the request for an expense of administration for the debtor's share of post-petition remediation expense, the court declined to set a deadline for assumption or rejection. The debtor with numerous asbestos-related claims needed to work out its liabilities in a plan, not on a piece-meal basis.
Section 365(b)(1) requires a debtor in default to cure or provide adequate assurance of prompt cure of defaults. Debtors may seek to use the latter clause to argue for a cure over time. The courts look at the facts and circumstances of each case to determine whether the proffered cure is "prompt." In a case where the debtor owed pre-and post petition arrearages under a lease, then
