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Provide a template for a Lease Assignment Agreement
Lease Assignment Agreement Template
LEASE ASSIGNMENT AGREEMENT
This Lease Assignment Agreement ("Agreement") is made and entered into as of [Date], by and between:
Assignor: [Assignor's Full Name] [Assignor's Address] [City, State, ZIP Code]
Assignee: [Assignee's Full Name] [Assignee's Address] [City, State, ZIP Code]
Landlord: [Landlord's Full Name] [Landlord's Address] [City, State, ZIP Code]
Premises: [Description of the leased property, including address]
Original Lease: This Agreement pertains to the lease agreement dated [Original Lease Date] ("Original Lease") between Assignor and Landlord for the Premises.
Term of Original Lease: The term of the Original Lease is from [Start Date] to [End Date].
1. Assignment of Lease
1.1 Assignment: The Assignor hereby assigns, transfers, and sets over to the Assignee all of the Assignor's rights, title, and interest in and to the Original Lease and the Premises, subject to all the terms and conditions contained in the Original Lease.
1.2 Assumption of Obligations: The Assignee hereby accepts the assignment of the Original Lease and agrees to assume and perform all of the Assignor's obligations under the Original Lease, including the payment of rent and compliance with all other terms and conditions of the Original Lease, from and after the effective date of this Agreement.
2. Consent of Landlord
2.1 Consent Requirement: This Agreement is contingent upon obtaining the written consent of the Landlord to this assignment, as required by the Original Lease.
2.2 Landlord's Consent: The Landlord's consent to this assignment is evidenced by the Landlord's signature below.
3. Representations and Warranties
3.1 Assignor's Representations: The Assignor represents and warrants that:
The Original Lease is in full force and effect and has not been modified, except as disclosed in this Agreement.
The Assignor has not received any notice of default under the Original Lease.
The Assignor has the full right and authority to assign the Original Lease to the Assignee.
3.2 Assignee's Representations: The Assignee represents and warrants that:
The Assignee has reviewed the Original Lease and agrees to be bound by its terms.
The Assignee has the financial capability to perform the obligations under the Original Lease.
4. Indemnification
4.1 Assignor's Indemnification: The Assignor agrees to indemnify and hold the Assignee harmless from and against any and all claims, liabilities, and expenses (including reasonable attorney's fees) arising from the Assignor's failure to perform any of the obligations under the Original Lease prior to the effective date of this Agreement.
4.2 Assignee's Indemnification: The Assignee agrees to indemnify and hold the Assignor harmless from and against any and all claims, liabilities, and expenses (including reasonable attorney's fees) arising from the Assignee's failure to perform any of the obligations under the Original Lease on or after the effective date of this Agreement.
5. Miscellaneous
5.1 Governing Law: This Agreement shall be governed by and construed in accordance with the laws of the Republic of Kenya.
5.2 Entire Agreement: This Agreement constitutes the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior agreements and understandings, whether written or oral, relating to such subject matter.
5.3 Amendments: This Agreement may be amended or modified only by a written instrument executed by both the Assignor and the Assignee, and consented to by the Landlord.
5.4 Counterparts: This Agreement may be executed in counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.
IN WITNESS WHEREOF, the parties hereto have executed this Lease Assignment Agreement as of the day and year first above written.
Assignor:
[Assignor's Full Name]
Date: [Date]
Assignee:
[Assignee's Full Name]
Date: [Date]
Landlord:
[Landlord's Full Name]
Date: [Date]
Witness 1:
[Witness 1 Full Name]
Date: [Date]
Witness 2:
[Witness 2 Full Name]
Date: [Date]
Sources:
TLDR
This document is a template for a Lease Assignment Agreement in Kenya, detailing the assignment of lease rights and obligations from the Assignor to the Assignee, with the consent of the Landlord. It includes sections on representations, indemnifications, and miscellaneous provisions, ensuring compliance with Kenyan law.
Answered by mwakili.com