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. IbM D. Liquidation Value The Plan Proponents have not attempted to estimate the liquidation value of the Debtor's business enterprise as a going concern or the liquidation value of the Debtor's individual assets since the Plan Proponents believe that a liquidation of the Debtor would result in a distribution of less than the 100~ of all Allowed Claims which the Plan proposes to pay. In the event of a liquidation, the proceeds of Debtor's assets would be distributed to HealthVest on its Secured Claim and to. holders of Administrative Expense Claims and other Priority Claims, incl uding the IRS. Because of the magnitude of HealthVest's Claim and the $29 million Claim -~ asserted by the IRS, it is unlikely that there would be any significant proceeds available for distribution on Unsecured Claims after satisfaction of the IRS Claim. This is the case even though Healthcare and all of its related subsidiaries are jointly and severally liable on the IRS Claim to the extent it is Allowed. .. VII. UNEXPIRED LEASES ÃND EXECUTORY CONTRACTS A. In General - Under 11 U .S.C. § 365, a debtor has the option to assume or reject any unexpired leases or executory contrac~s. A lease is unexpi red if it was not terminated prior to the filing of the bankruptcy petition. A contract is executory if performance by the parties, other than mere payment of money, remained on the date of filing bankruptcy. In order to a~sume a contract or lease, the Debtor is required to exercise good business judgment. If the Debtor assumes a contract or lease, it is required to perform all of the obligations of the contract or lease, unless the other party agrees otherwise. If the Debtor rejects the contract or lease, the othe r party to the còntract is permitted to file a claim for damages. Under the Plan, all claims for rejection of a contract or lease must be filed within sixty (60) days from the Effective Date under the Plan, unless the CÄurt has required that they be filed at an earlier date. Pursuant to 11 U.S.C. § 502(b)(6), claims for rejection of a lease of real propet"ty may be limi ted to the amount of rent which was unpaid on the date the property was surrendered or the petition was filed plus the greater of one year's rent or l5~ of the amount due to the remaining term of the lease (not to exceed three years rent). However, in no event may the lessor recover more than its actual damages. B. CÄntracts To date, the Debtor has not assumed any contracts; however, the Debtor intends to assume the following contracts or leases pursuant to the Plan of Reorganization: - 12 - a-ZeISS <