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Assignment Of Option Agreement
"I need an Assignment of Option Agreement to transfer my property development option rights for a retail site in Dublin to a new investor, with the assignment to be completed by March 2025 and including the original grantor's consent requirements."
1. Parties: Identifies the assignor (current option holder), assignee (new option holder), and the original option grantor
2. Background: Details of the original option agreement, its key terms, and the context for the assignment
3. Definitions: Defines key terms including 'Option Agreement', 'Option', 'Assignment Date', and other relevant terms
4. Assignment: Core clause transferring all rights, title and interest in the Option from assignor to assignee
5. Consideration: States the payment or other consideration for the assignment
6. Assignor's Warranties: Standard warranties about ownership of the option rights and capacity to assign
7. Further Assurance: Obligation to execute further documents and take actions necessary to perfect the assignment
8. Notices: Provisions for how notices under the assigned option agreement should be given post-assignment
9. Governing Law and Jurisdiction: Confirms Irish law as governing law and Irish courts' jurisdiction
10. Execution: Formal execution block for all parties
1. Option Grantor Consent: Required if the original option agreement requires the grantor's consent to assignment
2. Conditions Precedent: Include if the assignment is conditional upon certain events or approvals
3. Additional Warranties: Enhanced warranties section if specific assurances about the option or underlying asset are required
4. Costs: Include if there's a specific agreement about who bears the costs of the assignment
5. Retained Liabilities: Include if certain liabilities are to remain with the assignor
6. Confidentiality: Include if specific confidentiality provisions are needed beyond those in the original option
7. Tax Provisions: Include if specific tax treatments or obligations need to be addressed
8. Third Party Rights: Include if rights are to be granted to or excluded from third parties
1. Original Option Agreement: Copy of the original option agreement being assigned
2. Option Grantor Consent Letter: If required, the formal consent from the original option grantor
3. Property Details: If the option relates to property, details of the relevant property
4. Payment Terms: If the consideration is complex or involves multiple payments, detailed payment terms
5. Existing Encumbrances: If relevant, list of any existing encumbrances or limitations on the option
6. Required Notices: Forms of any notices required to be given under the original option agreement
Authors
Assignment
Assignment Date
Assignor
Assignee
Option
Option Agreement
Option Period
Option Property
Original Option Grantor
Completion
Completion Date
Consideration
Effective Date
Encumbrances
Exercise Notice
Exercise Period
Exercise Price
Liabilities
Option Rights
Parties
Permitted Assigns
Related Rights
Remaining Term
Strike Price
Transfer
Warranties
Working Day
Business Day
Consent
Original Option Date
Property
Rights and Obligations
Security Interest
Stamp Duty
Term
Title Documents
Transaction Documents
Consideration
Warranties and Representations
Further Assurance
Costs
Stamp Duty
Notices
Severability
Entire Agreement
Variation
Waiver
Assignment and Transfer
Third Party Rights
Confidentiality
Data Protection
Force Majeure
Governing Law
Jurisdiction
Counterparts
Indemnification
Conditions Precedent
Consent Requirements
Registration
Execution
Successors and Assigns
Time of the Essence
Survival
No Partnership
Announcements
Remedies
Real Estate
Commercial Property
Corporate Finance
Investment Banking
Private Equity
Construction
Energy
Mining
Agriculture
Infrastructure Development
Retail Development
Industrial Development
Legal
Corporate Development
Real Estate
Commercial
Finance
Compliance
Risk Management
Property Development
Mergers & Acquisitions
Investment
Legal Counsel
Corporate Lawyer
Property Lawyer
Real Estate Director
Investment Manager
Commercial Director
Chief Financial Officer
Property Development Manager
Corporate Development Director
Risk Manager
Compliance Officer
Transaction Manager
Contract Manager
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