Assignment and assumption of lease template

A landlord usually requires a rent deposit as a precondition to providing its consent to the assignment of a lease. An assignment is a transfer of rights that a party has under a contract to another person, called an assignee. The assigning party is called the assignor. This form is a sample of an assignment of a lease to real estate and the assumption by assignee of the obligations of the lessee under the lease.

The last part of this form is a consent of lessor Further, absent the assignee's assumption of the lease, a subsequent assignment will end the assignee's privity of estate, and with it, all of that party's obligations to the landlord.

Thus, the absence of privity of contract between the landlord and assignee prevents the assignee from being liable for any breach committed by the original Assignee hereby assumes and agrees to perform all of the terms, covenants, conditions and obligations required to be performed on the part of the landlord or lessor accruing under the Lease on and after the Effective Date hereof in accordance with the terms thereof.

Indemnity by Assignee. Representations and Warranties. Further Assurances. Assignor covenants with Assignee and Assignee covenants with Assignor that each will execute or procure any additional documents necessary to establish the rights of the other hereunder.

This Assignment may be executed in multiple counterparts, each of which shall be deemed an original, and both of which together shall constitute one and the same instrument. Binding Effect. This Assignment shall be binding upon and inure to the benefit of the parties hereto and their respective transferees, successors and assigns. Assignor and Assignee each agree to execute and deliver such other and further documents as may be necessary to transfer, assign, convey and deliver the Leases and to otherwise accomplish the purposes and intent of this Assignment.

Legal Description. Description of Lease. Lawyers with backgrounds working on assignment and assumption of leases work with clients to help.

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I've interned at both corporations and boutique firms, and I've taken extensive specialized classes in intellectual property and technology law. The Standard Terms and Conditions set forth in Annex 1 attached hereto are hereby agreed to and incorporated herein by reference and made a part of this Assignment and Assumption as if set forth herein in full.

Each such sale and assignment is without recourse to [the] [any] Assignor and, except as expressly provided in this Assignment and Assumption, without representation or warranty by [the] [any] Assignor. Rent Adjustment 9. Broker Representations and Warranties Examination of Amendment Definitions Incorporation Sample 1 Sample 2. Effectiveness Contingent Upon Landlord's Consent 3.

Condition of Leased Premises 4. Security Deposit 5. Assignment of Tenant Improvements 6. Standards of Landlord's Consent 7. Further Assurances 8. Representation Regarding Execution 9. Liability of Parties Grant of Indemnity Enforcement by Landlord Successors Counterparts Governing Law Entire Agreement Advice of Attorney Headings Severability Notices Attorneys' Fees Confidentiality Specific Performance CASp Inspection Assignor's Cost of Assignment Sample 1 Sample 2.

Assignment and Assumption of Lease - Table of Contents based on 1 contracts 1. Defined Terms 2. Surrender; Early Access Rights 3. Assignment of Lease 4. Assumption of Obligations 5. Security Deposit 6. Assignor Indemnification 7. Assignee Indemnification 8. Assignment Fee 9. Service Contracts Prorations Representations Brokerage Commission Landlord Consent Voluntary Agreement Successors and Assigns Governing Law; Jurisdiction and Venue Cooperation Survival Sample 1.