Page:United States Statutes at Large Volume 103 Part 1.djvu/568

 103 STAT. 540 PUBLIC LAW 101-73—AUG. 9, 1989 \ "(I) not be liable to the purchaser for any dam- ages arising after such date as a result of the repudiation other than the amount of any offset allowed under clause (i)(II); "(11) deliver title to the purchaser in accordance with the provisions of the contract; and "(III) have no obligation under the contract other than the performance 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 conserva- tor or liquidating agent to assign the contract 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 described in clause (i) is con- summated, the conservator or liquidating agent shall have no further liability under the contract described in subparagraph (A) or with respect to the real prop- erty which was the subject of such contract. "(7) PROVISIONS APPLICABLE TO SERVICE CONTRACTS.— " (A) SERVICES PERFORMED BEFORE APPOINTMENT.— In the case of any contract for services between any person and any insured credit union for which the Board has been appointed conservator or liquidating agent, any claim of such person for services performed before the appointment of the conservator or the liquidating agent shall be— "(i) a claim to be paid in accordance with subsection (b); and "(ii) deemed to have arisen as of the date the con- servator or liquidating agent was appointed. "(B) SERVICES PERFORMED AFTER APPOINTMENT AND PRIOR TO REPUDIATION.— If, in the case of any contract for services described in subparagraph (A), the conservator or liquidat- ing agent accepts performance by the other person before the conservator or liquidating agent makes any determina- tion to exercise 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 conservatorship or liquidation. " (C) ACCEPTANCE OF PERFORMANCE NO BAR TO SUBSEQUENT REPUDIATION. —The acceptance by any conservator or liq- uidating agent of services referred to in subparagraph (B) in connection with a contract described in such subparagraph shall not affect the right of the conservator or liquidating agent to repudiate such contract under this section at any time after such performance. "(8) CERTAIN QUALIFIED FINANCIAL CONTRACTS. — "(A) RIGHTS OF PARTIES TO CONTRACTS.— Subject to para- graph (12) of this subsection and notwithstanding any other provision of this Act (other than subsection (b)(9) of this section and section 208(a)(3)), any other Federal law, or the

�