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Case 16-42529 Doc 1478 Filed 10/24/16 Entered 10/24/16 20:24:17 Main Document <br />Pg 11 of 99 <br />Notice reflecting the same (as such terms are defined below). Such election shall be made and <br />the Rejection Notice shall be served prior to entry of an Order approving this Motion with <br />respect to such Lease. <br />23. The Debtors will proceed with a hearing on the assumption of all Assumed Leases <br />for which a Cure Objection has not been filed at the Scheduled Hearing. Any counterparty to an <br />Assumed Lease that does not timely file a Cure Objection is deemed to consent to, and shall be <br />bound forever by, the proposed Cure Amount as set forth in the Assumed Leases Schedule. <br />The Rejected Leases <br />24. In connection with the Debtors' review of the Leases, the Debtors have decided to <br />reject the Leases (collectively, the "Rejected Leases") identified on Exhibit B attached hereto <br />(the "Rejected Leases Schedule"), effective as of the Assumption/Rejection Date. 12 The Debtors <br />have determined that (a) the Rejected Leases are not necessary to their ongoing business <br />operations or restructuring efforts and have no realizable market value and (b) the Debtors' <br />burdens under each of the Rejected Leases exceed any current or potential benefits to <br />the Debtors thereunder. The Debtors therefore believe, in their business judgment, that the <br />12 Each Rejected Lease includes any modifications, amendments, addenda or supplements thereto or <br />restatements thereof as of the Assumption/Rejection Date. Notwithstanding the foregoing, the Rejected <br />Leases shall not include any (a) payment agreements, (b) royalty agreements, including overriding royalty <br />agreements, (c) assignment and assumption agreements, (d) purchase and other acquisition agreements, <br />(e) sale agreements or (f) purchase option agreements, none of which are leases of nonresidential real <br />property within the meaning of section 365(d)(4) of the Bankruptcy Code; provided that the Debtors <br />reserve their rights to assume or reject any of the foregoing as may be permitted by section 365 of the <br />Bankruptcy Code. <br />For each Rejected Lease, the Rejected Leases Schedule includes: (a) the name(s) of the lessor or lessors for <br />the Rejected Lease; (b) the name(s) of the Debtor(s) that is/are party to the Rejected Lease; and (c) to the <br />extent such information is reasonably available to the Debtors, (i) the location of the leased property, <br />(ii) the date of execution of the Rejected Lease and (iii) a brief description of the Rejected Lease. <br />The Rejected Leases Schedule also prominently indicates that the effective date of rejection for all of the <br />Rejected Leases set forth therein is the Assumption/Rejection Date. The terms of the Rejected Leases <br />included in the Rejected Leases Schedule are provided for convenience only and are not intended to modify, <br />or to represent the Debtors' interpretation of, the terms of any Rejected Lease. <br />NAI -1502082594x7 I I <br />