Assignment and Assumption of the Lease Clause Samples
The Assignment and Assumption of the Lease clause governs the transfer of a tenant's rights and obligations under a lease to another party. Typically, this clause outlines the conditions under which the original tenant (assignor) may assign the lease to a new tenant (assignee), such as requiring the landlord's prior written consent and specifying the responsibilities the assignee must assume. Its core function is to provide a clear process for changing the party responsible for the lease, ensuring all parties understand their rights and obligations, and protecting the landlord from unauthorized or unsuitable assignments.
Assignment and Assumption of the Lease wherein Seller shall indemnify Buyer from and against any and all obligations accruing under the Lease prior to the Closing Date and Buyer shall indemnify Seller from and against any and all obligations accruing under the Lease from and after the Closing Date; and
Assignment and Assumption of the Lease. SECTION 1.01. Assignor hereby transfers to Assignee, all of Assignor’s right, title and interest in and to the Lease, provided, however, that Assignee does hereby agree to assume all of the duties, liabilities and obligations of the tenant under the Lease accruing from and after (but not prior to) the date hereof, including, but not limited to the payment of rent; and covenants and agrees to save, defend, indemnify and hold Assignor, its members, managers, shareholders, directors, officers, employees, agents successors and assigns (collectively, “Assignor Indemnitees”) harmless from and against any and all demands, claims, causes of action, actions, liabilities, obligations, losses, damages, costs, charges, counsel fees and other expenses of every nature and character whatsoever which may be incurred by Assignor and/or any other Assignor Indemnitees by reason of Assignee’s failure to comply or perform any covenant, term, condition, or agreement in the Lease to be complied with or performed by the tenant thereunder from and after the date hereof.
SECTION 1.02. Assignor covenants and agrees to save, defend, indemnify and hold Assignee, its members, managers, shareholders, directors, officers, employees, agents successors and assigns (collectively, “Assignee Indemnitees”) harmless from and against any and all demands, claims, causes of action, actions, liabilities, obligations, losses, damages, costs, charges, counsel fees and other expenses of every nature and character whatsoever which may be incurred by Assignee and/or any other Assignee Indemnitees by reason of Assignor’s failure to comply or perform any covenant, term, condition, or agreement in the Lease to be complied with or performed by the tenant under the Lease prior to the date hereof.
Assignment and Assumption of the Lease. A. OEI assigns all of OEI’s right, title, and interest in and to and delegates all of OEI’s duties, obligations, and responsibilities under the Lease to Ogden Parks effective as of the date of full execution of this Agreement by the parties (“Assignment Date”).
▇. ▇▇▇▇▇ Parks accepts all of OEI’s right, title and interest in and to and assumes and shall faithfully perform all of the duties, obligations, and responsibilities of OEI under the Lease and agrees to be bound by all of the terms and conditions of the Lease City of San ▇▇▇▇ as if Ogden Parks was an original signatory to the Lease. Specifically, Ogden Parks agrees to assume all obligations and liabilities in and under the Lease regardless of the date on which such obligations or liabilities arose.
Assignment and Assumption of the Lease. Assignment of warranties from the party or parties constructing the Improvements on the Property, and if such warranties are not assignable on their face, the written consents of the assignments thereof by the party giving the warranty from the party or parties constructing the Improvements on the Property;
Assignment and Assumption of the Lease. THIS ASSIGNMENT AND ASSUMPTION OF THE LEASE (this "Agreement") is made as of January ___, 1998, by and between RMC DEVELOPMENT COMPANY, LLC ("Assignor"), a limited liability company organized under the laws of the State of New York, having an address at ▇▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇, ▇▇▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, and CALI STAMFORD REALTY ASSOCIATES L.P., a limited partnership organized under the laws of the State of Connecticut, its successors and assigns ("Assignee") having an address at c/o ▇▇▇▇-▇▇▇▇ Realty Corporation, ▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇.
Assignment and Assumption of the Lease. Assignor hereby sells, transfers, assigns, and conveys to Assignee all of Assignor’s right, title and interest in and to the Lease. Assignee hereby accepts such assignment and assumes all of Assignor’s performance obligations that accrue or arise under the Lease.
Assignment and Assumption of the Lease. A counterpart of an assignment and assumption of the Lease, in substantially the form attached hereto as Exhibit D;