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11 U.S.C. § 365(c)(1)

11 U.S.C. § 365(c)(1)

Definition

A provision of the United States Bankruptcy Code prohibiting a trustee from assuming or assigning an executory contract or unexpired lease of the debtor where (a) applicable law excuses the nondebtor contracting party from performing for or accepting performance by an entity other than the debtor or debtor-in-possession and (b) such nondebtor party objects to the assumption or assignment.

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