Article 120 — Termination of Contract of Lease

1/ Where a business is mortgaged, the lessor shall inform the creditors when he terminates the lease or he intends amicably to terminate the lease or to enforce a provision for termination made in the contract. The lease shall terminate not earlier than thirty consecutive days following such notice to the creditors. 2/ Where notice is not given under Sub-Article (1) of this Article, the termination of the contract of lease shall not affect creditors having secured rights on the business.