2020-08-28_GENERAL DOCUMENTS - C1980004 (6)

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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 9 of 13 "$0.00,"is significantly less than the actual amount due according to Wintrust's books and records. (Hallauer Decl. at¶ 10). 28. The Bankruptcy Code requires the Debtors to cure all defaults under an unexpired lease as of the date of assumption. Section 365(b)(1) of the Bankruptcy Code provides: (b)(1) If there has been a default in an executory contract or unexpired lease of the debtor, the trustee may not assume such contract or lease unless, at the time of assumption of such contract or lease,the trustee (A) cures, or provides adequate assurance that the trustee will promptly cure, such default . . .; (B) compensates,or provides adequate assurance that the trustee will promptly compensate, a party other than the debtor to such contract or lease, for any actual pecuniary loss to such party resulting from such default; and (C) provides adequate assurance of future performance under such contract or lease. 11 U.S.C. § 365(b)(1). 29. The proposed cure costs in the Notice of Cure Costs are"as of July 21, 2020." The Notice makes no provision for payment of post-petition amounts due which have not been paid by the Debtors. The assumption of the Lease Agreement should be conditioned on compensation to Wintrust for rent and other charges or pecuniary losses that are or may become due through the date of assumption, and Wintrust reserves all rights to such compensation. 30. "With respect to the requirements of§ 365,in order to assume a contract,the Debtor must cure or provide adequate assurance that any default would be cured; compensate or provide adequate assurance for any actual pecuniary loss to a party other than the Debtor resulting from the default; and provide adequate assurance of future performance under the contract." In re Plum Run Serv. Corp., 159 B.R. 496, 500 (Bankr. S.D. Ohio 1993). See also Heidtman Steel Prod., Inc. 9