Assignment and Assumption of Tenant Leases Clause Samples
The Assignment and Assumption of Tenant Leases clause governs the transfer of a landlord's rights and obligations under existing tenant leases to another party, typically in the context of a property sale or transfer. This clause outlines the process by which the new owner (assignee) assumes responsibility for honoring the terms of current leases, including collecting rent and maintaining the property, while the original landlord (assignor) is released from future obligations. Its core function is to ensure a seamless transition for both tenants and the new property owner, preventing disruptions in tenancy and clarifying the parties responsible for lease obligations after the transfer.
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Assignment and Assumption of Tenant Leases. An Assignment and Assumption of Tenant Leases in the form of EXHIBIT 4.
Assignment and Assumption of Tenant Leases. Two counterpart originals of the Assignment and Assumption of Tenant Leases.
Assignment and Assumption of Tenant Leases. Assignor hereby assigns, transfers and conveys to Assignee all of Assignor’s right, title and interest in, to and under the Tenant Leases identified on Exhibit A, attached hereto, effective as of the Closing Date. Assignee does hereby accept the foregoing assignment and does hereby assume, and agree to perform and be bound by, all of the covenants, conditions, obligations and liabilities of Assignor under the Tenant Leases which accrue from and after the Closing Date.
Assignment and Assumption of Tenant Leases. At Closing, all of Seller's rights, title and interests in and to the Tenant Leases shall be transferred and assigned to Buyer, and Buyer shall assume all of Seller's obligations and liabilities under the Tenant Leases arising from and after Closing, subject to the provisions of Section 11 hereof, by an Assignment and Assumption of Tenant Leases (the "Assignment and Assumption of Tenant Leases") in the form attached hereto as Exhibit "6".
Assignment and Assumption of Tenant Leases. An assignment and assumption agreement (the “Assignment and Assumption of Tenant Leases”) assigning the Tenant Leases to Contributee, in form and substance acceptable to Contributee and Contributor.
Assignment and Assumption of Tenant Leases in the form of Exhibit B attached hereto, assigning to Buyer all of Seller’s right, title, and interest in the Tenant Leases.
Assignment and Assumption of Tenant Leases. A duly executed and acknowledged original assignment and assumption of all of Developer’s right, title and interest in and to any Tenant Lease to [***], in each instance in a form approved by [***], and [***]’s local counsel (the “Assignment and Assumption of Tenant Lease”);
Assignment and Assumption of Tenant Leases. A duly executed, valid and original assignment and assumption of all of the applicable Seller's right, title and interest in and to the Tenant Leases applicable to the Assets being acquired at such Closing, substantially in the form attached as Exhibit 10.2(a)(ii) hereto;
Assignment and Assumption of Tenant Leases. An assignment in the form attached hereto as Exhibit "J" (the "Assignment of Leases"), duly executed, assigning and transferring all of landlord's interest in and to the Tenant Leases to Buyer and providing for the assumption of same thereof by Buyer.
Assignment and Assumption of Tenant Leases. At Closing, each Seller shall transfer and assign all of its respective rights, title and interests in and to the Tenant Leases, together with the security deposits as set forth in the Tenant Leases (except for security deposits which Seller discloses, in writing delivered to Buyer no later than five (5) calendar days prior to the expiration of the Due Diligence Period, are not in its possession), to Buyer, and Buyer shall assume all of Seller’s obligations and liabilities under the Tenant Leases arising from and after Closing, subject to the provisions of Section 12 hereof, by an Assignment and Assumption of Tenant Leases (the “Assignment and Assumption of Tenant Leases”) substantially in the form attached hereto as EXHIBIT “6”.