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Lease Assignment Agreement
"I need a Lease Assignment Agreement for transferring my retail store lease in Vienna to a new tenant, with the assignment to take effect from March 1, 2025, and including specific provisions for the transfer of existing store fixtures and fittings."
1. Parties: Identification of the Assignor (current tenant), Assignee (new tenant), and Landlord
2. Background: Details of the existing lease agreement, property description, and reason for assignment
3. Definitions: Key terms used throughout the agreement including 'Lease', 'Assignment Date', 'Property', etc.
4. Assignment: Core provisions detailing the transfer of lease rights and obligations from Assignor to Assignee
5. Landlord's Consent: Express consent of the landlord to the assignment and any conditions attached
6. Effective Date: Specification of when the assignment takes effect
7. Assignor's Warranties: Confirmations regarding the lease status, no breaches, payments up to date, etc.
8. Assignee's Covenants: New tenant's commitments to comply with lease terms and perform obligations
9. Rent and Deposits: Handling of rent payments, transfer of security deposits, and other financial matters
10. Governing Law: Confirmation of Austrian law as governing law and jurisdiction
1. Guarantees: Required when there are existing guarantees to be released or new guarantees to be provided
2. Property Management: Needed when there are specific property management arrangements to be transferred
3. Outstanding Works: Include when there are ongoing repairs or improvements that need to be addressed
4. Break Rights: Required when specific break options are being transferred or modified
5. Service Contracts: Include when there are service contracts that need to be assigned or terminated
6. Environmental Matters: Necessary for properties with specific environmental obligations or concerns
7. Registration: Include when the assignment requires registration in the land register
1. Schedule 1 - The Property: Detailed description of the leased property including address and plan
2. Schedule 2 - The Existing Lease: Copy or details of the original lease agreement and any variations
3. Schedule 3 - Rent and Payment Details: Current rent, payment dates, and bank account details
4. Schedule 4 - Condition Report: Current condition of the property at time of assignment
5. Schedule 5 - Outstanding Matters: List of any pending obligations, repairs, or disputes
6. Appendix A - Form of Notice: Template notices to be sent to relevant parties regarding the assignment
7. Appendix B - Landlord's Consent Letter: Formal written consent from the landlord
Authors
Real Estate
Retail
Commercial Property
Industrial
Hospitality
Office Space
Manufacturing
Logistics
Healthcare
Education
Legal
Real Estate
Facilities Management
Operations
Finance
Compliance
Property Management
Asset Management
Corporate Services
Risk Management
Real Estate Manager
Property Manager
Legal Counsel
Facilities Manager
Commercial Director
Operations Manager
Chief Financial Officer
Asset Manager
Lease Administrator
Business Development Manager
Corporate Real Estate Manager
Compliance Officer
Real Estate Lawyer
Property Administrator
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