Unexpired Lease

A lease to which the debtor is a party and whose term has not expired. A debtor may assume, or assume and assign, only those leases that are unexpired. The bankruptcy filing does not extend the term of a lease.

The Code pointlessly adds the adjective “unexpired” when referring to lease but not to executory contracts.

Bankruptcy Code § 365. See also Assumption and Assignment of Executory Contracts and Unexpired Leases, Rejection of Executory Contracts and Unexpired Leases.

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