Common use of Assumed and Assigned Leases and Executory Contracts Clause in Contracts

Assumed and Assigned Leases and Executory Contracts. Prosoft shall forthwith take all actions in the Chapter 11 Case necessary to seek an order from the Bankruptcy Court authorizing it to assume for Reorganized Prosoft all of Prosoft’s right, title and interest in: (a) except for those items that are set forth in Schedule 1.3A, all leases or rental or occupancy agreements of real property under which Prosoft is lessee or occupant (subject to amendments, the terms of which shall be disclosed as necessary and appropriate in the Chapter 11 Case) (the “Real Property Leases”); (b) except for those items that are set forth in Schedule 1.3B, all leases of personal property under which Prosoft is lessee (the “Personal Property Leases” which together with the Real Property Leases shall be referred to herein as the “Leases”); and (c) except for those items that are set forth in Schedule 1.3C, all contracts, agreements, employment agreements, purchase orders and similar arrangements (the “Executory Contracts”).