In re: RANDALL’S ISLAND FAMILY GOLF CENTERS, INC et al, Chapter 11, Debtors.

Case Nos. 00-B-41065 (SMB) through 00-B-41196 (SMB), (Jointly Administered)United States Bankruptcy Court, S.D. New York
April 19, 2001

Jonathan L. Flaxer (JF 7096), GOLENBOCK, EISEMAN, ASSOR BELL, Counsel to Debtors and Debtors-in-Possession, New York, New York.

ORDER PURSUANT TO SECTION 365(d)(4) OF THE BANKRUPTCY CODE EXTENDING THE TIME WITHIN WHICH THE DEBTORS-INPOSSESSION MUST ELECT TO ASSUME OR REJECT TWO UNEXPIRED LEASES OF NONRESIDENTIAL REAL PROPERTY
STUART M. BERNSTEIN, Bankruptcy Judge

Upon the Motion (the “Motion”) of the above-captioned debtors and debtors-in-possession (collectively, the “Debtors”) for entry of an order pursuant to section 365(d)(4) of title 11 of the United States Code (the “Bankruptcy Code”) extending the time within which the Debtors must elect to assume or reject two unexpired leases of nonresidential real property, defined in the Motion as the Office Lease and the Chicago Metro Lease;

And this Court having adjourned the hearing on the Motion as to the Chicago Metro Lease;

And notice of the Motion having been given to (i) the Office of the United States Trustee; (ii) Berlack, Israels, Liberman, LLP, counsel to the Official Committee of Unsecured Creditors; (iii) Morgan, Lewis Bockius, LLP, counsel to The Chase Manhattan Bank, as Agent; (iv) the landlord under the Office Lease; and (v) all other parties who have filed a notice of appearance and/or requested notice in these chapter 11 cases;

And it appearing that no farther notice of the Motion need be given;

And it appearing that this Court has jurisdiction over this matter pursuant to 28 U.S.C. § 157 and 1334 and that this is a core proceeding pursuant to § 157(b)(2);

And upon the record of the hearing held on the Motion as to the Office Lease by the Court on April 19, 2001;

And it appearing that an extension of the period within which the Debtors must elect to assume or reject the Office Lease pursuant to section 365(d)(4) of the Bankruptcy Code is in the best interest of the Debtors, their estates and their creditors;

And after due deliberation and sufficient cause appearing therefor, it is

ORDERED, that pursuant to section 365(d)(4) of the Bankruptcy Code, the time period within which the Debtors must elect to assume or reject the Office Lease, as defined in the Motion, is extended through and including June 30, 2001, without prejudice to the Debtors’ right to seek a further extension of such time and without prejudice to a lessor’s right to request a reduction of such time; and it is further

ORDERED, that nothing contained in this Order shall in any respect be deemed to prejudice the right or ability of the Debtors to assume or reject the Office Lease, or the rights of the lessor under the Office Lease with respect to any such assumption or rejection.

ORDERED, that the hearing on the Motion with respect to the Chicago Metro Lease is adjourned to April 25, 2001 at 10:00 a.m.