EXECUTORY CONTRACTS AND UNEXPIRED LEASES.

SEC. 404. EXECUTORY CONTRACTS AND UNEXPIRED LEASES.(a) In General.—Section 365(d)(4) of title 11, United States Code, is amended to read as follows:“(4)(A) Subject to subparagraph (B), an unexpired lease of nonresidential real property under which the debtor is the lessee shall be deemed rejected, and the trustee shall immediately surrender that nonresidential real property to the lessor, if the trustee does not assume or reject the unexpired lease by the earlier of—119 STAT. 105 “(i) the date that is 120 days after the date of the order for relief; or“(ii) the date of the entry of an order confirming a plan.“(B)(i) The court may extend the period determined under subparagraph (A), prior to the expiration of the 120-day period, for 90 days on the motion of the trustee or lessor for cause.“(ii) If the court grants an extension under clause (i), the court may grant a subsequent extension only upon prior written consent of the lessor in each instance.”.(b) Exception.—Section 365(f)(1) of title 11, United States Code, is amended by striking “subsection” the first place it appears and inserting “subsections (b) and”.