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Assignment Of Lease Contract
"I need an Assignment of Lease Contract for transferring my retail shop lease in Central, Hong Kong to a new tenant, with the condition that they take over my existing shop fittings and maintain my current staff, with completion planned for March 2025."
1. Parties: Identifies the Landlord, Assignor (current tenant), and Assignee (new tenant)
2. Background: Recitals explaining the existing lease arrangement and intention to assign
3. Definitions: Defines key terms used throughout the agreement including Property, Lease, Assignment Date, etc.
4. Agreement to Assign: Core clause establishing the assignment of the lease from Assignor to Assignee
5. Consideration: States the payment or other consideration for the assignment
6. Assignor's Covenants: Warranties and representations by the Assignor regarding the lease status
7. Assignee's Covenants: Commitments by the Assignee to comply with lease terms and obligations
8. Landlord's Consent: Confirmation of the Landlord's agreement to the assignment
9. Completion: Details of when and how the assignment will be completed
10. Costs and Stamp Duty: Allocation of legal costs and stamp duty responsibilities
11. Governing Law: Specifies Hong Kong law as governing law
12. Execution: Signature blocks for all parties
1. Security Deposit Transfer: Required when existing security deposit is being transferred from Assignor to Assignee
2. Outstanding Rent Statement: Include when there are rent reconciliation requirements between parties
3. Condition of Premises: Used when specific agreements about property condition are made between Assignor and Assignee
4. Existing Alterations: Include when there are unauthorized alterations or pending reinstatement obligations
5. Break Clause: Include if original lease contains break options that need special treatment
6. Guarantor Provisions: Required when there are existing guarantors or new guarantors for the Assignee
1. Schedule 1 - The Property: Detailed description of the leased premises including address and plan
2. Schedule 2 - The Lease: Details of the original lease including date, parties, and any variations
3. Schedule 3 - Rent and Other Payments: Current rent, payment dates, and other financial obligations
4. Schedule 4 - Existing Licenses and Consents: List of all existing licenses, consents, and permits relating to the property
5. Appendix A - Copy of Original Lease: Certified copy of the original lease agreement
6. Appendix B - Landlord's Consent Letter: Copy of formal consent from landlord where provided separately
Authors
Assignment
Assignment Date
Assignor
Assignee
Bank Guarantee
Business Day
Completion
Completion Date
Consideration
Effective Date
Encumbrances
Existing Lease
Government Lease
Hong Kong
Land Registry
Landlord
Landlord's Consent
Lease
Lease Term
Original Lease
Parties
Premises
Property
Rent
Security Deposit
Stamp Duty
Unexpired Term
Working Day
Consideration
Completion
Warranties and Representations
Covenants
Consent
Condition of Premises
Security Deposit
Registration
Stamp Duty
Costs
Further Assurance
Notices
Entire Agreement
Severability
Governing Law
Jurisdiction
Assignment and Transfer
Variation
Waiver
Third Party Rights
Confidentiality
Force Majeure
Indemnification
Default
Remedies
Execution
Real Estate
Retail
Commercial Property
Office Space
Industrial
Hospitality
Healthcare
Education
Financial Services
Professional Services
Legal
Real Estate
Facilities Management
Operations
Finance
Risk & Compliance
Corporate Secretarial
Business Development
Property Management
Property Manager
Real Estate Director
Legal Counsel
Company Secretary
Facilities Manager
Commercial Director
Operations Manager
Asset Manager
Property Lawyer
Lease Administrator
Real Estate Partner
Business Development Manager
Chief Financial Officer
Risk Manager
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