Oregon Revised Statutes Chapter 37 § 37.240 — Executory contracts

Executory contracts. (1) A receiver may, upon order of the court, assume any executory contract of the owner. A receiver may, after giving notice, reject any executory contract of the owner. The court may condition assumption or rejection of any executory contract on terms and conditions that the court deems just and proper. A receiver’s performance of an executory contract does not constitute an assumption of the contract or an agreement by the receiver to assume it, nor otherwise preclude the receiver from rejecting it. (2) If a receiver assumes an executory contract, the receiver must assume the contract in its entirety. (3) Any obligation or liability incurred by a receiver due to the receiver’s assumption of an executory contract is an expense of the receivership. A receiver’s rejection of an executory contract is treated as a breach of the contract occurring immediately before the receiver’s appointment, and the receiver’s right to possess or use property pursuant to an executory contract terminates upon rejection of the contract. The other party to an executory contract that is rejected by a receiver may take any necessary steps to terminate or cancel the contract. Any claims resulting from a receiver’s rejection of an executory contract must be submitted to the receiver in the manner provided for by ORS