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Assignment And Assumption Of Lease Form
"I need an Assignment And Assumption Of Lease Form for transferring my commercial office lease to a new tenant effective March 1, 2025, with the existing guarantor being released and a new guarantor being added."
1. Parties: Identifies assignor, assignee, and landlord details
2. Background: Details of original lease and reason for assignment
3. Definitions: Key terms used throughout the document including the Original Lease, Property, Assignment Date
4. Assignment: Core provisions transferring lease rights and obligations from assignor to assignee
5. Assumption of Obligations: Assignee's acceptance and assumption of all lease obligations
6. Effective Date: Specification of when the assignment takes effect
7. Execution: Signing provisions and attestation requirements for all parties
1. Landlord's Consent: Required when the original lease requires landlord's consent for assignment
2. Guarantor Provisions: Provisions relating to any guarantors provided by the assignee
3. Rent Apportionment: Provisions for handling rent payments when assignment occurs mid-rental period
4. Service Charge Provisions: Provisions for handling service charge arrangements and apportionment
1. Schedule 1 - Original Lease: Copy of the original lease being assigned
2. Schedule 2 - Property Description: Detailed description of the leased premises including any plans or drawings
3. Schedule 3 - Landlord's Consent Letter: Written consent from landlord authorizing the assignment
4. Schedule 4 - Condition Report: Current condition of the property at the time of assignment
Authors
Assignor
Assignee
Landlord
Original Lease
Property
Assignment Date
Effective Date
Completion Date
Lease Term
Rent
Service Charges
Guarantor
Permitted Use
Landlord's Consent
Security Deposit
Outstanding Obligations
Lease Liabilities
Premises
Related Documents
Working Day
Relevant Period
Existing Guarantor
New Guarantor
Assignment Premium
Apportionment Date
Lease Rights
Tenant Covenants
Landlord Covenants
Lease Obligations
Assumption of Obligations
Consent and Approval
Representations and Warranties
Rent and Payments
Service Charges
Security Deposit
Guarantees
Release of Prior Obligations
Indemnification
Property Condition
Notices
Registration Requirements
Stamp Duty
Costs and Expenses
Further Assurance
Entire Agreement
Severability
Governing Law
Jurisdiction
Counterparts
Successors and Assigns
Time of Essence
Waiver
Variation
Third Party Rights
Apportionment
Insurance
Compliance with Lease Terms
Default and Remedies
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