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Lease Assignment Agreement
"I need a Lease Assignment Agreement under Hong Kong law for transferring a retail space lease in Central, with completion planned for March 2025, including specific provisions for the assignment of existing shop fittings and transfer of the security deposit."
1. Parties: Identifies and defines all parties: Original Tenant (Assignor), New Tenant (Assignee), and Landlord
2. Background: Recitals explaining the existing lease arrangement, intention to assign, and landlord's consent
3. Definitions: Defines key terms used throughout the agreement including Property, Lease, Assignment Date, and Rent
4. Agreement to Assign: Core clause stating the assignment of the lease from Assignor to Assignee
5. Consideration: Details of any payment made for the assignment
6. Assignor's Covenants: Warranties and representations from the original tenant regarding the lease status
7. Assignee's Covenants: New tenant's agreements to comply with lease terms and perform obligations
8. Landlord's Consent: Confirmation of the landlord's agreement to the assignment
9. Completion: Details of the completion process, timing, and requirements
10. Stamp Duty: Responsibilities for paying stamp duty and registration fees
11. Notices: Process for serving notices between parties
12. Governing Law: Confirmation of Hong Kong law governing the agreement
13. Execution: Signature blocks for all parties
1. Security Deposit Assignment: Required when existing security deposit is being transferred between parties
2. Outstanding Rent Arrangements: Needed if there are any rent arrears or prepayments to be addressed
3. Renovation/Reinstatement: Include when there are specific arrangements about existing alterations or restoration requirements
4. Broker's Commission: Required when property agents are involved in the assignment
5. Condition of Premises: Optional section detailing the current state of the property if relevant to the assignment
6. Existing Breaches: Include when there are known breaches that need to be addressed or indemnified
7. Third Party Consents: Required when additional consents (e.g., mortgagee consent) are needed
1. Schedule 1 - Property Details: Detailed description of the property including address, floor area, and parking spaces
2. Schedule 2 - Existing Lease: Key details of the original lease including date, term, rent, and any modifications
3. Schedule 3 - Inventory: List of any fixtures, fittings or furniture included in the assignment
4. Schedule 4 - Outstanding Items: List of any outstanding matters to be resolved, payments due, or obligations to be fulfilled
5. Appendix A - Original Lease: Copy of the original lease document
6. Appendix B - Landlord's Consent Letter: Copy of formal consent from landlord
7. Appendix C - Plans: Floor plans or property plans if relevant
Authors
Assignment
Assignment Date
Assignor
Assignee
Building
Completion
Completion Date
Consideration
Effective Date
Encumbrances
Existing Lease
Government Lease
Landlord
Landlord's Consent
Lease Term
Original Lease Date
Outgoings
Parties
Premises
Property
Rent
Security Deposit
Stamp Duty
Title Documents
Transaction Documents
Working Day
Management Fees
Permitted Use
Relevant Authority
Service Charges
Utilities
Consideration
Consent
Representations and Warranties
Property Condition
Completion
Security Deposit
Rent and Outgoings
Handover
Covenants
Indemnification
Stamp Duty
Registration
Notices
Further Assurance
Severability
Entire Agreement
Variation
Assignment and Transfer
Costs
Governing Law
Jurisdiction
Counterparts
Confidentiality
Force Majeure
Waiver
Time of Essence
Real Estate
Retail
Commercial Office
Industrial
Hospitality
Healthcare
Education
Financial Services
Technology
Manufacturing
Logistics
Professional Services
Legal
Real Estate
Operations
Finance
Compliance
Risk Management
Facilities Management
Administrative Services
Corporate Services
Property Management
Real Estate Manager
Property Manager
Facilities Manager
Legal Counsel
Corporate Lawyer
Operations Director
Chief Financial Officer
Business Development Manager
Office Manager
Compliance Officer
Risk Manager
Asset Manager
Leasing Manager
Company Secretary
Property Administrator
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