Extract to table

A critical exception applies to unexpired leases of nonresidential real property: under Section 365(d)(4), such leases must be assumed or rejected within 120 days of the order for relief, and the court may extend this period for an additional 90 days for cause

As a precondition to assignment, the debtor must first assume the contract (satisfying the cure and adequate assurance requirements of Section 365(b)), and the proposed assignee must demonstrate adequate assurance of future performance under the contract