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11 U.S.C. § 365(b)(1)

11 U.S.C. § 365(b)(1)

Definition

A provision of the United States Bankruptcy Code disallowing the assumption of an executory contract or lease in which the debtor is in default unless (a) the default is cured, with certain exceptions, (b) the nondefaulting party is compensated for the loss caused by the default, and (c) adequate assurance of future performance is given.

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