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does not apply to a default, and thus conclude that there is no inconsistence or, if there is one, it should be resolved in favor of 365(B)(2). One thing is clear: under section 365(b)(1) as amended, the lessee of a nonresidential lease must perform at and after the time of assumption in accordance with the lease and compensate the landlord for any pecuniary loss resulting from such default.
Two related changes were made to section 1124(2)(a), which defines the circumstances under which a lessor is entitled to be treated as impaired. First, section 1124(2)(A) was amended to provide that the claims of a lessor are treated as "unimpaired" if the plan "cures any such default that occurred before or after the commencement of the case ... other than a default of a kind specified in section 365(b)(2) of this title or of a kind that section 365(b)(2) expressly does not require to be cured." Second, section 1124(2)(D) was added to provide that "if such claim or such interest arises from any failure to perform a nonmonetary obligation other than a default arising from failure to operate a nonresidential real property lease subject to section 365(b)(1)(A), [the plan must] compensate[] the holder of such claim or such interest (other than the debtor or an insider) for any actual pecuniary loss incurred by such holder as a result of such failure."
Pursuant to BAPCPA, section 365 of the Bankruptcy Code was amended by adding a new subparagraph (p), which terminates the automatic stay with respect to a lease of personal property that is rejected or not timely assumed by the debtor under the 60-day provision of Bankruptcy Code Section 365(d). For individuals filing chapter 7 cases, the debtor may notify the creditor, in writing, that the debtor intends to assume the lease of personal property. The creditor may, at its option, notify the debtor that the creditor is willing to have the lease assumed and may condition the
