This deed of sale and assignment lease template has 14 pages and is a MS Word file type listed under our real estate documents.
Sample of our deed of sale and assignment lease template:
DEED OF SALE AND ASSIGNMENT This Deed of Sale and Assignment (the "Agreement") is effective [DATE], BETWEEN: [YOUR COMPANY NAME] (the "First Party"), a company organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [YOUR COMPLETE ADDRESS] AND: [COMPANY NAME] (the "Second Party"), a company organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [COMPLETE ADDRESS] WHEREAS the First Party, as lessor, has entered into a [PRODUCT] equipment rental agreement (Contract No. [NUMBER]) [DATE] with the First Party; WHEREAS the Lessor has agreed to sell, assign, transfer and convey to the First Party, and the First Party has agreed to purchase, subject to the terms and conditions hereinafter provided, the Lease, as well as all of the Lessor's rights, title and interest in and to the Lease including, without limitation, the right to all rentals, fees, charges and all other monies or proceeds to become owing and due under the Lease by [NAME OF PRODUCT SUPPLIER] or any other party (collectively and individually, the "Rentals") and the equipment and other property, if any, described in the Lease and the Special Conditions or Annexes attached to the Lease (hereinafter, together with all equipment delivered in replacement therefore, all accessories and attachments thereto and spare parts therefore, and all owner manuals and user guides, collectively and individually referred to as the "Equipment"); NOW, THEREFORE, in consideration of the mutual promises herein made and the mutual benefits to be derived from this Agreement, and for other good and valuable consideration, the sufficiency and receipt of which are hereby acknowledged, the parties hereby agree as follows: DEFINITIONS AND INTERPRETATION Definitions The following words and expressions, wherever used in this Agreement or in its Schedules, or in any deed, document, agreement or instrument supplementary or ancillary thereto, unless there be something in the subject or the context inconsistent therewith, shall have the following meanings: "Business Day" means any day excluding Saturday, Sunday and any other day which in [STATE/PROVINCE], [COUNTRY], is a legal holiday or a day on which financial institutions are authorized by law or by local proclamation to close; "Collateral Rights" has the meaning ascribed thereto in Section 2.1; "Lessor" means the Party of the Second Part and includes its successors and permitted assigns; "The Lessor Acceptance" has the meaning ascribed thereto in Section 2.9; "The Lessor Notice" has the meaning ascribed thereto "the First Party" means the Party of the First Part and includes its successors and assigns; "the First Party Acceptance" has the meaning ascribed thereto in Section 2.9; "the First Party Notice" has the meaning ascribed thereto in Section 2.9; "the First Party Refusal" has the meaning ascribed thereto in Section 2.9; "Lease Term" means, in respect of the Lease, the period beginning on the date of commencement thereof and ending on the earlier of: the last day of the term specified in Schedule "A" hereto; and the date as of which the Lease is terminated prior to the date referred to in paragraph for whatever reason, including, without limitation, by reason of loss or destruction of the [PRODUCT]. "Lien" means any interest in property or the income or profits therefrom securing an obligation owed to, or a claim by, a Person (including an individual) other than the owner of such property, whether such interest is based on common law, civil law, statute or contract, and including, but not limited to, any security interest, hypothec, mortgage, pledge, privilege, lien, claim, charge, cession, transfer, assignment, encumbrance, title retention agreement, lessor's interest under a lease which would be capitalized on a balance sheet of the owner of such property or analogous interest in, of or on any property or the income or profits therefrom of a Person (including an individual); "Minimum Disposal Value" means, in respect of any Lease, where such "Minimum Disposal Value" is to be determined on a date: between the date of execution of such Lease and up to and including the date being the last day of the [NUMBER] month of the Lease Term, the sum of the present value of the Rentals remaining due under such Lease on such date and the present value of the Residual Value of such Lease, each calculated by employing for the purposes of such calculation the "Discount Rate"; however, if the Residential Mortgage Rate on the date as of which such calculation must be made is less than the Residential Mortgage Rate which existed on the date of the relevant Deed of Sale and Assignment, then "Minimum Disposal Value" shall be equal to the sum of the product resulting from the aforementioned calculation and an amount equal to the amount certified by the First Party to be sufficient to compensate it for all losses, expenses and costs incurred by the First Party in connection with the redeployment of funds; being the [NUMBER] day of the [NUMBER] month of the Lease Term or at any time thereafter, the sum of the present value of the Rentals remaining due under such Lease on such date and the present value of the Residual Value of such Lease, each calculated by employing for the purposes of such calculation the "Discount Rate" hereof, less [%]; "Person" means any corporation, firm, joint venture, partnership, trust, unincorporated organization, government or any department, agency or instrumentality of any government; "Prime Rate" has the meaning ascribed thereto in Section 6.6 hereof; "Purchase Price" has the meaning ascribed thereto in Section 2.1 hereof; "Residential Mortgage Rate" means interest at a rate per annum equal to the rate published or quoted from time to time by the the First Party as the reference rate of interest in order to determine rates for loans in [CURRENCY] funds to [NATIONALITY] borrowers secured by first-ranking mortgages against the personal residences of such borrowers for terms approximately equal to the Lease Term or the balance of the Lease Term, as the case may be, in all cases adjusted automatically upon each change in such rate; save and except, however, that if said rate, by reason of the proclamation, imposition or change in any [YOUR COUNTRY LAW], statute, regulation, decree, order or directive applicable to or binding upon the First Party, does not represent, by an amount which [COUNTRY] Bank of [COUNTRY] deems in its sole discretion to be material, what otherwise would be the prevailing market rate for such loans, then, for the purposes hereof, "Residential Mortgage Rate" shall be equal to the rate determined by the First Party as would be the prevailing market rate therefore; "Stipulated Loss Value" means, in respect of any Lease, where such "Stipulated Loss Value" is to be determined on a date upon which a rental payment is due, the amount appearing opposite the number of such rental payment on Schedule [SPECIFY] hereto. In all other cases, "Stipulated Loss Value" means the amount appearing opposite the number of the immediately preceding rental payment, which was due, multiplied by a rate equal to the Prime Rate plus two [%] per annum; "this Agreement", "these presents", "herein", "hereby", "hereunder", "hereof" and similar expressions refer collectively to this Master Assignment Agreement and the accompanying Schedules and include any and every deed, document or instrument which is supplementary or ancillary hereto or in implementation hereof; "Transaction Date" has the meaning ascribed thereto in Section 2.6 hereof; "Upgraded Lease" has the meaning ascribed thereto in Section 2.9. Singular, Plurals and Currency
