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Novation Of Tenancy Agreement
"I need a Novation of Tenancy Agreement for my Singapore retail space where the current tenant (ABC Retail Pte Ltd) wants to transfer their lease to a new company (XYZ Fashion Pte Ltd) from March 1, 2025, with all existing terms remaining the same."
1. Parties: Identifies the original tenant, new tenant, and landlord
2. Background: Details of the original tenancy agreement and reason for novation
3. Definitions: Key terms used throughout the agreement
4. Novation: Core provisions regarding the transfer of rights and obligations
5. Release of Original Tenant: Provisions releasing original tenant from obligations
6. Assumption by New Tenant: New tenant's assumption of rights and obligations
7. Effective Date: When the novation takes effect
8. Governing Law: Specification of Singapore law as governing law
1. Security Deposit Arrangements: Transfer or replacement of security deposit - use when there's an existing security deposit
2. Outstanding Payments: Handling of any outstanding rent or charges - use when there are pending payments
3. Representations and Warranties: Additional assurances by parties - use for complex commercial properties
4. Costs: Allocation of legal and administrative costs - use when costs need to be specifically addressed
1. Schedule 1 - Original Tenancy Agreement: Copy of the original agreement being novated
2. Schedule 2 - Property Details: Specific details of the property under tenancy
3. Schedule 3 - Inventory List: List of fixtures and fittings (when furnished property)
4. Schedule 4 - Outstanding Payments Schedule: Details of any outstanding payments (when applicable)
Authors
Original Tenancy Agreement
Property
Original Tenant
New Tenant
Landlord
Effective Date
Completion Date
Security Deposit
Lease Term
Permitted Use
Rent
Outstanding Payments
Novation
Parties
Business Day
Working Day
Premises
Common Areas
Fixtures and Fittings
Service Charge
Relevant Authority
Singapore Dollar
SGD
GST
Inventory
Original Agreement Date
Handover Date
Background
Novation
Release and Discharge
Assumption of Obligations
Consent and Agreement
Security Deposit
Outstanding Payments
Representations and Warranties
Handover
Costs and Expenses
Assignment
Notices
Severability
Entire Agreement
Variation
Third Party Rights
Counterparts
Confidentiality
Governing Law
Dispute Resolution
Force Majeure
Waiver
Further Assurance
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