iTALK will pay the settlement > ITALK assume the lease for the premises > ITALK and operate as the sub-dealer > ITALK ITALK taking over as tenant on terms agreeable to > ITALK.
T-Mobile is agreeable to allowing Debtor to operate the store under its current master dealer agreement; however, time is of the essence as any further delay may threaten T-Mobile’s agreement to allow Debtor to continue to operate as the master dealer at the Premises. In short, the proposed Settlement Agreement provides that Debtor’s parent company, ITALK, will pay the settlement amount to Moin, assume the lease for the Premises and operate as the sub-dealer at the Premises allowing Debtor to continue to generate master dealer revenues. The Settlement Agreement is contingent upon Bankruptcy Court approval, and consent and approval of the landlord for the Premises with respect to ITALK taking over as tenant on terms agreeable to ITALK.
Accordingly, and for reasons detailed herein, the Settlement Agreement is in the best interests of the estate and its creditors, and approval of the Settlement Agreement is warranted under Bankruptcy Rule 9019.