Eastman Kodak Co. will ask Judge Allan L. Gropper of the U.S. Bankruptcy Court for the Southern District of New York in Manhattan on Feb. 15 to reject its lease that has allowed it to lend its name to the iconic theater located at Hollywood Boulevard and North Highland Avenue in Los Angeles.

The scheduled hearing is just 11 days before the Oscars will air on Feb. 26.

Documents show Kodak entered into the lease agreement with former owner TrizecHahn Hollywood LLC on Oct. 5, 2000, about a year before the 3,332-seat theater opened in November 2001. CIM Group LP purchased the property, part of the Hollywood & Highland Center, in 2004.

The theater calls its relationship with Kodak "one of the most significant non-sports corporate sponsorships in history" on its website.

"Kodak's prominence and long-standing connection to the film industry in Hollywood made the relationship a natural," says the website, noting that for the past 78 consecutive years, since the inception of the Academy Awards, the movie awarded Best Picture was produced on Kodak film.

Kodak, however, said in court documents that rejecting its right to name the theater would result in significant annual savings.