Schedule G: Executory Contracts and Unexpired Leases (non-individuals) is a document filed with the bankruptcy court that lists all contracts and leases that are still in effect between the debtor and another party. This includes contracts and leases for the use of property, goods, and services. It does not include contracts and leases between individuals, which are listed on Schedule H. The types of Schedule G: Executory Contracts and Unexpired Leases (non-individuals) include but are not limited to: -Real Estate Leases: This includes leases on commercial or residential property. —Equipment Leases: This includes leases on equipment like vehicles, machinery, and office supplies. —Service Contracts: This includes contracts for services like marketing, accounting, and IT services. —Licensing Agreements: This includes agreements to use intellectual property like trademarks and patents. —Employment Agreements: This includes agreements with employees that outline their salary, benefits, job duties, and other terms of employment. —Insurance Policies: This includes policies that cover the debtor’s business— -Manufacturing Contracts: This includes agreements with manufacturers for the production of goods.
Schedule G: Executory Contracts and Unexpired Leases (non-individuals)
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FAQ
To stick with the real estate example for a moment, a lease agreement is an executory contract because the obligations are ongoing.
Executory refers to something (generally a contract) that has not yet been fully performed or completed and is therefore considered imperfect or unassured until its full execution. Anything executory is started and not yet finished, or is in the process of being completed in order to take full effect at a future time.
An example of an executory contract would be an apartment lease. When you enter into a lease agreement, you are promising to pay the rent for a period of time. Until the term expires, the contract promises have not been fulfilled. Put another way, a landlord generally rents an apartment under a lease contract.
Executory refers to something (generally a contract) that has not yet been fully performed or completed and is therefore considered imperfect or unassured until its full execution. Anything executory is started and not yet finished, or is in the process of being completed in order to take full effect at a future time.
What are ?executory contracts? and ?unexpired leases?? An executory contract is a contract where both parties still have important things to do. An equipment lease is an executory contract. An unexpired lease is a lease that is ongoing like a car or truck lease or an apartment 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.
(a) An executed contract is one in which all the parties thereto have performed all the obligations which they have originally assumed. (b) An executory contract is one in which something remains to be done by one or more parties.
An executory contract is one where the debtor is a party but neither party has fulfilled its obligations under the contract. An unexpired lease is a common example of an executory contract ? the lessor has not given its leasehold for the full term of the lease yet, nor has the debtor paid for the full term.