2020-08-28_GENERAL DOCUMENTS - C1980004 (7)

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Case 1:20-bk-12043 Doc 303 Filed 08/28/20 Entered 08/28/20 11:03:45 Desc Main Document Page 8 of 13 23. Section 8.15 of the Stalking Horse Agreement requires removal of all assets excluded from the Debtors' asset sale after closing. Thus, there is a limited window to remarket the Wintrust Equipment without incurring significant additional transportation costs. 24. As of the closing date on the proposed asset sale, both Rhino Energy LLC and the purchaser will have had sufficient opportunity to evaluate the benefits of assuming the Lease Agreement. If the Lease Agreement is not assumed as of closing, it should be expeditiously rejected. 25. Nonetheless, the Sale Motion and the Sale Procedures Order do not establish a timeline for rejection of leases that have not been assumed and assigned. Given the sale process and timelines that have been established by the Debtors, Wintrust should not suffer the delay and expense of filing a separate motion to reject the Lease Agreement, if it is not assumed at closing by the purchaser. 26. Wintrust objects to any order approving the sale of the Debtors' assets that does not also provide that (i) if not assumed by the purchaser, the Lease Agreement is deemed rejected as of the closing date, (ii) upon such rejection, the Debtors shall execute such lease termination documents as are reasonably requested by Wintrust, and (iii) the automatic stay is terminated with respect to the Wintrust Equipment pursuant to Section 365(p) of the Bankruptcy Code to permit Wintrust to sell the Wintrust Equipment from its current locations. OBJECTION TO CURE COST 27. Provided that the requirements of the Bankruptcy Code are satisfied, Wintrust supports the assignment and assumption of the Lease Agreement and desires to work with the Debtors and any proposed assignee on such assignment. The Debtors' Notice of Cure Costs is objectionable, however, because the cure amount therein for the Lease Agreement, namely 3