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Assign Tenancy Agreement
"I need an Assign Tenancy Agreement for a commercial office space in downtown Chicago, where my company is transferring the lease to our subsidiary company effective March 1, 2025, with the current lease running until December 2025."
1. Parties: Identifies and provides full details of the Original Tenant (Assignor), the New Tenant (Assignee), and the Landlord
2. Background: Outlines the existence of the original lease, its key terms, and the intention to assign the tenancy
3. Definitions: Defines key terms used throughout the agreement including Property, Original Lease, Assignment Date, etc.
4. Assignment: Core clause that legally transfers the tenancy from Assignor to Assignee
5. Effective Date: Specifies when the assignment takes effect
6. Consideration: Details any payment made by the Assignee to the Assignor for the assignment
7. Assignor's Covenants: Promises and warranties made by the original tenant regarding the lease status
8. Assignee's Covenants: New tenant's promises to comply with lease terms and perform tenant obligations
9. Landlord's Consent: Confirmation of the landlord's approval of the assignment
10. Security Deposit: Handling and transfer of the existing security deposit
11. Notices: How and where formal communications between parties should be sent
12. Governing Law: Specifies the state law governing the agreement
13. Entire Agreement: Confirms this document represents the complete agreement between parties
1. Guarantor: Required when the Assignee provides a guarantor for the lease obligations
2. Condition of Premises: Used when there's a need to document the property's condition at assignment
3. Outstanding Repairs: Needed when there are ongoing maintenance issues to be addressed
4. Pro-rata Payments: Required when rent, utilities, or other payments need to be apportioned
5. Assignment Fee: Include when the landlord charges a fee for processing the assignment
6. Retention of Liability: Used when the Assignor retains some ongoing liability
7. Insurance: Required when specific insurance arrangements need to be transferred or established
8. Special Conditions: For any unique terms specific to this assignment
1. Schedule 1 - Original Lease: Copy of the original lease agreement being assigned
2. Schedule 2 - Property Inventory: Current inventory and condition report of the property
3. Schedule 3 - Landlord's Consent Letter: Written confirmation of landlord's approval
4. Schedule 4 - Payment Schedule: Details of any payments between Assignor and Assignee
5. Appendix A - Property Photos: Current dated photographs of the property condition
6. Appendix B - Utility Accounts: List of utility accounts and transfer arrangements
7. Appendix C - Outstanding Maintenance: List of any pending repairs or maintenance issues
8. Appendix D - Keys and Access Devices: Inventory of all keys and access devices being transferred
Authors
Assignment
Assignment Date
Assignor
Assignee
Landlord
Original Lease
Property
Premises
Term
Remaining Term
Rent
Security Deposit
Effective Date
Guarantor
Permitted Use
Common Areas
Assignment Fee
Lease Obligations
Original Lease Date
Completion Date
Consideration
Fixtures and Fittings
Inventory
Lease Term
Outstanding Payments
Party/Parties
Pro-rata Share
Rent Payment Date
Service Charges
Utilities
Working Day
Consent
Deposit Transfer
Notice Period
Building
Assignment Conditions
Existing Obligations
Transfer Date
Consent
Payment Terms
Security Deposit
Warranties
Representations
Indemnification
Liability
Notice
Insurance
Condition of Premises
Handover
Utilities Transfer
Default
Remedies
Access Rights
Property Use
Maintenance Obligations
Compliance
Force Majeure
Severability
Amendment
Waiver
Entire Agreement
Governing Law
Dispute Resolution
Confidentiality
Further Assurance
Costs
Succession
Third Party Rights
Counterparts
Assignment Fee
Release
Residential Real Estate
Commercial Real Estate
Property Management
Legal Services
Real Estate Investment
Student Housing
Corporate Housing
Retail Leasing
Office Leasing
Industrial Leasing
Legal
Real Estate
Property Management
Compliance
Facilities
Operations
Administrative Services
Asset Management
Tenant Relations
Corporate Services
Property Manager
Real Estate Attorney
Leasing Agent
Real Estate Manager
Housing Coordinator
Tenant Relations Manager
Legal Counsel
Compliance Officer
Real Estate Administrator
Facilities Manager
Corporate Housing Manager
Relocation Specialist
Property Administrator
Real Estate Paralegal
Asset Manager
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