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Assignment Of Lease Agreement
"I need an Assignment of Lease Agreement for transferring our tech company's office lease in Mumbai to our subsidiary company, with the original 5-year lease starting from March 1, 2025, and landlord's consent already obtained."
1. Parties: Identifies and defines the Assignor (current lessee), Assignee (new lessee), and Lessor (original property owner)
2. Background: Recitals explaining the original lease agreement, its key terms, and the intention to assign
3. Definitions: Defines key terms used throughout the agreement including Property, Original Lease, Effective Date, etc.
4. Assignment: Core clause transferring all rights, title and interest in the lease from Assignor to Assignee
5. Consideration: Details of the payment or consideration for the assignment
6. Lessor's Consent: Confirmation of the Lessor's consent to the assignment as required by law
7. Assignor's Covenants: Warranties and representations by the Assignor regarding the lease status
8. Assignee's Covenants: Commitments by the Assignee to comply with lease terms and assume responsibilities
9. Handover: Details about the physical handover of the property and any fixtures/fittings
10. Registration and Stamps: Provisions regarding document registration and stamp duty payment
11. Governing Law and Jurisdiction: Specifies Indian law as governing law and relevant jurisdiction
12. Execution: Signature blocks and execution formalities
1. Guarantor Provisions: Required when there is a guarantor for the Assignee's obligations
2. Outstanding Dues: Include when there are pending payments or dues to be addressed
3. Condition of Premises: Detailed section needed when specific property conditions need to be documented
4. Security Deposit Transfer: Required when there is a security deposit to be transferred from Assignor to Assignee
5. Maintenance Obligations: Include when specific maintenance responsibilities need to be allocated
6. Insurance: Required when specific insurance obligations need to be transferred or established
7. Dispute Resolution: Optional detailed arbitration or mediation clause if parties want alternative dispute resolution
1. Schedule 1 - Property Details: Detailed description of the leased property including address and boundaries
2. Schedule 2 - Original Lease: Copy or key details of the original lease agreement being assigned
3. Schedule 3 - Rent and Payment Details: Breakdown of rent, payment terms, and other financial obligations
4. Schedule 4 - Inventory: List of fixtures, fittings, and items included in the assignment
5. Schedule 5 - Outstanding Liabilities: List of any pending dues, bills, or liabilities
6. Appendix A - Lessor's Consent Letter: Formal written consent from the Lessor for the assignment
7. Appendix B - Property Documents: Copies of relevant property documents and certificates
Authors
Real Estate
Commercial Property
Retail
Industrial
Healthcare
Education
Hospitality
Manufacturing
Information Technology
Banking and Financial Services
Telecommunications
Logistics and Warehousing
Legal
Real Estate
Facilities Management
Operations
Finance
Compliance
Risk Management
Corporate Affairs
Administration
Property Management
Real Estate Manager
Property Manager
Legal Counsel
Corporate Lawyer
Facilities Manager
Operations Director
Chief Financial Officer
Commercial Director
Business Development Manager
Asset Manager
Lease Administrator
Property Portfolio Manager
Compliance Officer
Risk Manager
Company Secretary
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