of possession of the leasehold estate by Debtor. Finally, to establish the affirmative defense under § 547(c)(1) the Court must determine whether the exchange of “new value” was in fact “substantially contemporaneous.” There is no bright line rule in landlord/tenant cases for how many days into a month the rent is paid constitutes “substantially contemporaneous,” however, the courts have developed some general guidelines for making this determination. Courts generally agree that rent payments made a few days after the first of the month are contemporaneous exchanges for the purpose of satisfying the “new value” exception under § 547(c)(1) since the statute only requires that the payments be “substantially” contemporaneous and not contemporaneous. See Clothes, Inc. 35 B.R. at 491 (<HOLDING>). Some courts have extended the definition of
holding that a rent payment made 15 days late was substantially contemporaneous holding that whether an exchange is substantially contemporaneous must be determined on a casebycase basis holding that a difference between 384 days prepreference average number of days to payment and 547 days preference average number of days to payment did not make the payments out of the ordinary course of business holding that 120 days notice was satisfied by 30 days work plus 90 days pay holding that a difference between approximately 54 days prepreference average days to payment and approximately 67 days preference average days to payment did not make the payments out of the ordinary course of business