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Assignment Of Purchase Agreement Template for Germany

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Key Requirements PROMPT example:

Assignment Of Purchase Agreement

"I need an Assignment of Purchase Agreement under German law to transfer my rights as purchaser of a commercial property in Berlin to a new buyer, with completion scheduled for March 15, 2025; the original purchase price was €2.5 million and the assignment needs to include provisions for outstanding payments."

Document background
The Assignment Of Purchase Agreement is a crucial document used in German business transactions when a party wishes to transfer its rights and obligations under an existing purchase agreement to a new party. This document is particularly relevant in scenarios involving asset acquisitions, real estate transactions, or business restructuring. Governed by German law, specifically the provisions of the German Civil Code (BGB) regarding assignments (Abtretung) and purchase agreements (Kaufvertrag), the document must meet specific legal requirements to be valid and enforceable. It typically includes detailed information about the original purchase agreement, the parties involved, the rights being transferred, any conditions precedent, and necessary consents. The assignment can be used for various purposes, including corporate reorganizations, portfolio transfers, or as part of larger transaction structures, making it a versatile tool in German commercial practice.
Suggested Sections

1. Parties: Identification of the Assignor (current purchaser), Assignee (new purchaser), and the Original Seller (from the purchase agreement)

2. Background: Context of the original purchase agreement and the reason for the assignment

3. Definitions: Definitions of key terms including 'Purchase Agreement', 'Assignment Date', 'Purchase Rights', and other relevant terms

4. Assignment: Core provision detailing the transfer of rights and obligations under the Purchase Agreement from Assignor to Assignee

5. Consideration: Details of any payment or other consideration for the assignment

6. Assignor's Warranties: Warranties regarding the Assignor's right to assign, status of the Purchase Agreement, and absence of encumbrances

7. Completion Requirements: Actions required to complete the assignment, including notifications, registrations, or third-party consents

8. Further Assurance: Obligation to take additional steps necessary to perfect the assignment

9. Governing Law: Confirmation of German law as the governing law and jurisdiction provisions

10. Execution: Signature blocks and execution requirements

Optional Sections

1. Seller's Consent: Required when the original Purchase Agreement contains restrictions on assignment or when Seller's consent is prudent

2. Partial Assignment: Used when only certain rights or assets under the Purchase Agreement are being assigned

3. Security Provisions: Needed when the assignment is being made as security for other obligations

4. Tax Provisions: Required when there are specific tax implications or allocations to be addressed

5. Confidentiality: Added when confidential information will be shared as part of the assignment process

6. Costs: Include when there's a need to specify how transaction costs will be allocated

7. Notice Requirements: Detailed notice provisions when ongoing communications are required between multiple parties

Suggested Schedules

1. Original Purchase Agreement: Copy of the purchase agreement being assigned

2. Assets Schedule: Detailed list of assets covered by the Purchase Agreement when specific assets need to be identified

3. Completion Requirements: Checklist of actions required to complete the assignment

4. Form of Notice to Seller: Template for formal notification to the Original Seller about the assignment

5. Outstanding Obligations: List of any unfulfilled obligations under the Purchase Agreement

6. Required Consents: List of third-party consents required for the assignment to be effective

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈ˰æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

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Relevant Industries

Real Estate

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Retail

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Energy

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Healthcare

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Agriculture

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Relevant Teams

Legal

Finance

Commercial

Procurement

Business Development

Compliance

Risk Management

Real Estate

Corporate Development

Operations

Relevant Roles

Legal Counsel

Contract Manager

Business Development Manager

Chief Financial Officer

Commercial Director

Procurement Manager

Real Estate Manager

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Corporate Lawyer

Transaction Manager

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Industries







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Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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