394 
(II) may offset against any rent 
payment which accrues after the date 
of the repudiation of the lease, any 
damages which accrue after such date 
due to the nonperformance of any ob-
ligation of the covered financial com-
pany under the lease after such date; 
and 
(ii) the receiver shall not be liable to 
the lessee for any damages arising after 
such date as a result of the repudiation 
other than the amount of any offset al-
lowed under clause (i)(II). 
(6) CONTRACTS FOR THE SALE OF REAL PROP-
ERTY.— 
(A) IN GENERAL.—If the receiver repudi-
ates any contract (which meets the require-
ments of subsection (a)(7)) for the sale of real 
property and the purchaser of such real prop-
erty under such contract is in possession and is 
not, as of the date of such repudiation, in de-
fault, such purchaser may either— 
(i) treat the contract as terminated by 
such repudiation; or
395 
(ii) remain in possession of such real 
property. 
(B) PROVISIONS
APPLICABLE
TO
PUR-
CHASER
REMAINING
IN
POSSESSION.—If any 
purchaser of real property under any contract 
described in subparagraph (A) remains in pos-
session of such property pursuant to clause (ii) 
of such subparagraph— 
(i) the purchaser— 
(I) shall continue to make all 
payments due under the contract after 
the date of the repudiation of the con-
tract; and 
(II) may offset against any such 
payments any damages which accrue 
after such date due to the non-
performance (after such date) of any 
obligation of the covered financial 
company under the contract; and 
(ii) the receiver shall— 
(I) not be liable to the purchaser 
for any damages arising after such 
date as a result of the repudiation 
other than the amount of any offset 
allowed under clause (i)(II);
396 
(II) deliver title to the purchaser 
in accordance with the provisions of 
the contract; and 
(III) have no obligation under 
the contract other than the perform-
ance required under subclause (II). 
(C) ASSIGNMENT AND SALE ALLOWED.— 
(i) IN GENERAL.—No provision of this 
paragraph shall be construed as limiting 
the right of the receiver to assign the con-
tract described in subparagraph (A) and 
sell the property subject to the contract 
and the provisions of this paragraph. 
(ii) NO LIABILITY AFTER ASSIGNMENT 
AND SALE.—If an assignment and sale de-
scribed in clause (i) is consummated, the 
receiver shall have no further liability 
under the contract described in subpara-
graph (A) or with respect to the real prop-
erty which was the subject of such con-
tract. 
(7) PROVISIONS APPLICABLE TO SERVICE CON-
TRACTS.— 
(A) SERVICES
PERFORMED
BEFORE
AP-
POINTMENT.—In the case of any contract for
397 
services between any person and any covered fi-
nancial company for which the Corporation has 
been appointed receiver, any claim of such per-
son for services performed before the appoint-
ment of the receiver shall be— 
(i) a claim to be paid in accordance 
with subsections (a), (b), and (d); and 
(ii) deemed to have arisen as of the 
date the receiver was appointed. 
(B) SERVICES
PERFORMED
AFTER
AP-
POINTMENT AND PRIOR TO REPUDIATION.—If, 
in the case of any contract for services de-
scribed in subparagraph (A), the receiver ac-
cepts performance by the other person before 
the receiver makes any determination to exer-
cise the right of repudiation of such contract 
under this section— 
(i) the other party shall be paid under 
the terms of the contract for the services 
performed; and 
(ii) the amount of such payment shall 
be treated as an administrative expense of 
the receivership. 
(C) ACCEPTANCE
OF
PERFORMANCE
NO 
BAR TO SUBSEQUENT REPUDIATION.—The ac-
398 
ceptance by any receiver of services referred to 
in subparagraph (B) in connection with a con-
tract described in such subparagraph shall not 
affect the right of the receiver to repudiate such 
contract under this section at any time after 
such performance. 
(8) CERTAIN
QUALIFIED
FINANCIAL
CON-
TRACTS.— 
(A) RIGHTS OF PARTIES TO CONTRACTS.— 
Subject to paragraphs (9) and (10) of this sub-
section and notwithstanding any other provision 
of this section (other than subsection (a)(7)), 
any other Federal law, or the law of any State, 
no person shall be stayed or prohibited from ex-
ercising— 
(i) any right such person has to cause 
the termination, liquidation, or acceleration 
of any qualified financial contract with a 
covered financial company which arises 
upon the appointment of the Corporation 
as receiver for such covered financial com-
pany at any time after such appointment; 
(ii) any right under any security 
agreement or arrangement or other credit 
enhancement related to one or more quali-