Assignment of Lease by Lessee With Consent of Lessor

{{company_name}}

{{company_address}}

Phone: {{phone}}

Email: {{email}}

Website: {{website}}

ASSIGNMENT OF LEASE BY LESSEE WITH CONSENT OF LESSOR

This ASSIGNMENT OF LEASE (hereinafter referred to as the “Assignment”) is made and entered into on this {{day}} day of {{month}}, {{year}},

BETWEEN:

{{current_lessee_name}} (hereinafter referred to as the “Assignor”), residing at {{assignor_address}}.

AND:

{{new_lessee_name}} (hereinafter referred to as the “Assignee”), residing at {{assignee_address}}.

AND:

{{lessor_name}} (hereinafter referred to as the “Lessor”), residing at {{lessor_address}}.

RECITALS

WHEREAS, the Assignor is the current lessee of certain premises located at {{property_address}} (hereinafter referred to as the “Premises”) under a Lease Agreement dated {{original_lease_date}} between the Lessor and the Assignor (hereinafter referred to as the “Original Lease”).

WHEREAS, the Assignor desires to assign all of its right, title, and interest in and to the Original Lease to the Assignee.

WHEREAS, the Assignee desires to assume all of the Assignor’s obligations and rights under the Original Lease.

WHEREAS, the Lessor has agreed to consent to such assignment.

ASSIGNMENT

For good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Assignor hereby assigns, transfers, and sets over unto the Assignee all of the Assignor’s right, title, and interest in and to the Original Lease, together with all rights, privileges, and appurtenances belonging thereto, for the remainder of the term thereof, subject to all the covenants, conditions, and provisions contained in the Original Lease.

ASSUMPTION BY ASSIGNEE

The Assignee hereby accepts the foregoing assignment and assumes and agrees to perform all of the terms, covenants, and conditions contained in the Original Lease on the part of the lessee to be performed, from and after the effective date of this Assignment. The Assignee further agrees to indemnify and hold harmless the Assignor from any and all claims, liabilities, damages, and expenses arising from the Assignee’s breach of any term, covenant, or condition of the Original Lease or this Assignment.

CONSENT OF LESSOR

The Lessor hereby consents to the foregoing assignment of the Original Lease from the Assignor to the Assignee. This consent shall not be deemed a waiver of any subsequent assignment or subletting by the Assignee. The Lessor reserves all rights and remedies under the Original Lease.

CONTINUING LIABILITY OF ASSIGNOR

It is understood and agreed that the Assignor shall remain secondarily liable for the performance of all terms, covenants, and conditions of the Original Lease in the event the Assignee defaults on any of its obligations thereunder.

GOVERNING LAW

This Assignment shall be governed by and construed in accordance with the laws of {{country_name}}.

ENTIRE AGREEMENT

This Assignment, together with the Original Lease, constitutes the entire agreement between the parties concerning the subject matter hereof and supersedes all prior and contemporaneous agreements and understandings, whether written or oral.

IN WITNESS WHEREOF

The parties have executed this Assignment on the date first above written.

_____________________________

Assignor: {{current_lessee_name}}

_____________________________

Assignee: {{new_lessee_name}}

_____________________________

Lessor: {{lessor_name}}

WITNESSES:

1. _____________________________

Name: {{witness_1_name}}

ID No: {{witness_1_id_number}}

2. _____________________________

Name: {{witness_2_name}}

ID No: {{witness_2_id_number}}