EXECUTORY CONTRACTS AND UNEXPIRED LEASES

https://www.justice.gov/ust/handbook-chapter-7-trustees
EXECUTORY CONTRACTS AND UNEXPIRED LEASES
Section  365 provides that the trustee may assume or reject unexpired leases or executory contracts. This authority is subject to court approval. It is also subject to limitations set forth in subsections (b), (c), and (d) of § 365.
The assumption or rejection of an executory contract or unexpired lease must be sought within 60 days of the filing of the petition. An extension may be requested from the court, for cause, but must be obtained within the original 60-day period. The contract or lease is deemed rejected if a motion for assumption is not filed within the time limitations, pursuant to § 365(d)(1).