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Assumption Agreement
"I need an Assumption Agreement under Singapore law where my company ABC Technologies Pte Ltd will take over all obligations under an existing software licensing agreement from XYZ Solutions, with the transfer to be effective from 1 March 2025."
1. Parties: Identification of all parties involved in the assumption agreement
2. Background: Context of the original agreement and reason for assumption
3. Definitions: Key terms used throughout the agreement
4. Assumption of Rights and Obligations: Core provisions detailing what is being assumed
5. Effective Date: When the assumption takes effect
6. Representations and Warranties: Statements of fact by the parties
7. Governing Law: Specification of Singapore law as governing law
1. Consent of Original Parties: Required if original agreement requires consent for assumption
2. Partial Assumption Provisions: Details which obligations are assumed and which remain with original party
3. Security Provisions: Details of any security provided for the assumption
4. Novation Provisions: Provisions for complete transfer of rights and obligations when assumption amounts to novation
1. Schedule 1 - Original Agreement: Copy of the agreement being assumed
2. Schedule 2 - List of Assumed Rights and Obligations: Detailed list of what is being assumed
3. Schedule 3 - Consent Documents: Any required consent documentation from original parties
4. Schedule 4 - Security Documents: If security is involved, relevant security documentation
Authors
Assumed Obligations
Assumed Rights
Assumption Date
Business Day
Completion
Consent
Effective Date
Encumbrance
Event of Default
Existing Agreement
Governmental Authority
Law
Liabilities
Original Agreement
Original Obligor
Original Party
Party
Parties
Permitted Assignee
Related Documents
Representatives
Security
Singapore
Transaction Documents
Assumption of Obligations
Representations and Warranties
Conditions Precedent
Effective Date
Consideration
Consent and Acknowledgment
Further Assurance
Assignment
Notices
Indemnification
Release
Continuing Obligations
Amendments
Severability
Entire Agreement
Counterparts
Governing Law
Dispute Resolution
Confidentiality
Costs and Expenses
Third Party Rights
Force Majeure
Waiver
Time of Essence
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