ASSIGNMENT OF LEASE
ASSIGNMENT of lease by and between
[t-Name] (Tenant)
[t-Address]
[st-Name] (Sub-Tenant)
[st-Address]
[l-Name] (Landlord)
[l-address]
For good consideration, it is agreed
by and between the parties that:
1. Tenant hereby assigns, transfers
and delivers to Sub-Tenant all of Tenant's rights in and to a certain lease
between Tenant and Landlord for certain premises known as [t-Address], under
lease dated [s-Date]. (Lease)
2. Sub-Tenant agrees to accept said
Lease, pay all rent and punctually perform all of Tenant's obligation under
said Lease accruing on and after the date of delivery of possession to the
Sub-Tenant as contained herein. Sub-Tenant
further agrees to indemnify and save harmless the Tenant from any breach of Sub-Tenant's
obligations hereunder.
3. The parties acknowledge that
Tenant shall deliver possession of the leased premises to Sub-Tenant on [s-Date];
time being of the essence. All rents and
other charges accrued under the Lease prior to said date shall be fully paid by
Tenant, and thereafter by the Sub-Tenant.
4. Landlord hereby assents to the
assignment of lease, provided that:
a) Assent to the assignment shall
not discharge Tenant of its obligations under the Lease in the event of breach
by Sub-Tenant.
b) In the event of breach by
Sub-Tenant, Landlord shall provide Tenant with written notice of same and Tenant
shall have full rights to commence all actions to recover possession of the
leased premises (in the name of Landlord, if necessary) and retain all rights
for the duration of said Lease, provided it shall pay all accrued rents and cure
any other default.
c) There shall be no further
assignment of lease without prior written consent of Landlord.
5. This agreement shall be binding
upon and inure to the benefit of the parties, their successors, assigns and
personal representatives.
Signed under seal this [s-Day] day
of [s-Month], [s-Year].
______________________________
[t-Name] as Tenant
______________________________
[st-Name] as Sub-Tenant
[t-Name] as Tenant
______________________________
[st-Name] as Sub-Tenant
______________________________
[l-Name] as Landlord
