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

Assumed and Assigned Leases and Executory Contracts. 1.2.1 Seller shall forthwith take all actions necessary to seek an order from the Bankruptcy Court authorizing it to assume all leases or rental or occupancy agreements of real property under which Seller is lessee or occupant (subject to amendments, the terms of which are set forth in Exhibit "1. 2.1 hereto), that are set forth in Schedule 1.2.1; all leases of personal property under which Seller is lessee that are set forth in Schedule 1.2.1A hereto; all Individual Rentrak Agreements concerning Post-Petition Rentrak Inventory; all software licenses from Streamline Solutions Incorporated; and all personal property contracts and agreements with Seller's customers. 1.2.2 Seller shall forthwith, at such time as it is authorized to assume as set forth in Section 1.2.1, hereinabove by Bankruptcy Court order, assign all assumed rights under all leases and executory contracts as contemplated under Section 1.2.1 hereinabove, to the Purchaser.