This lease assignment agreement template has 3 pages and is a MS Word file type listed under our legal agreements documents.
Sample of our lease assignment agreement template:
LEASE ASSIGNMENT AGREEMENT This Lease Assignment ("Agreement") is effective as of [DATE], BETWEEN: [NAME OF THE ASSIGNOR] (the "Assignor"), an Assignor with place of residence located at: [YOUR COMPLETE ADDRESS] AND: [NAME OF THE ASSIGNEE] (the "Assignee"), an Assignee with place of residence at: [COMPLETE ADDRESS] WHEREAS, the Assignor, as Tenant, and [NAME OF LANDLORD] (the "Landlord") entered into that certain Multi-Tenant Lease Agreement dated [DATE], (the "Lease") pursuant to which Landlord agreed to lease to the Assignor certain premises commonly known as [ADDRESS OF PREMISES]; and, WHEREAS, the Landlord has provided its written consent dated [DATE] to an Assignment of said Lease by the Assignor to [NAME OF ASSIGNEE]; and, WHEREAS, the Landlord has provided its further written consent dated [DATE] to an Assignment of said Lease by [NAME OF ASSIGNOR]; and, WHEREAS, the Assignor desires to assign all of its right, title and interest in the Lease to the Assignee and the Assignee desires to assume the Assignor's obligations under the Lease; NOW, THEREFORE, in consideration of the mutual covenants contained herein and other good and valuable consideration, the receipt and legal sufficiency of which is hereby acknowledged, the Parties hereto agree as follows: ASSIGNMENT Subject to and concurrently with the consummation of that certain Asset Purchase and Sale Agreement dated [DATE], (the "Agreement") (the "Effective Date"), the Assignor hereby assigns the Assignee all of its right, title and interest in and to the Lease, including any and all prepaids and other rights or entitlements of the Assignor under the Lease, subject to all of the terms, covenants, conditions and provisions of the Lease. ASSUMPTION From and after the date hereof, the Assignee hereby assumes, covenants and agrees to keep and perform each and every obligation of the Assignor under the Lease. The Assignee agrees to be bound by each and every provision of the Leases as if it had executed the same. ASSIGNOR'S REPRESENTATIONS AND WARRANTIES The Assignor represents and warrants to the Assignee that: The Lease is in full force and effect, unmodified except as provided in this Agreement; The Assignor's interest in the Lease is free and clear of any liens, encumbrances or adverse interests of third parties; The Assignor possesses the requisite legal authority to assign its interest in the Lease as provided herein;
