The Lease Assignment Agreement is a crucial document used when an existing tenant wishes to transfer their lease obligations to a new tenant under Austrian law. This type of agreement is commonly needed in business restructuring, relocation, or when a tenant can no longer fulfill their lease obligations. The document must comply with Austrian legal requirements, particularly the ABGB and Mietrechtsgesetz, and requires the landlord's explicit consent. It includes detailed provisions about the property, existing lease terms, financial obligations, and the specific responsibilities of each party. The agreement ensures a smooth transition of lease rights while protecting the interests of all parties involved, including addressing security deposits, outstanding obligations, and future compliance with lease terms.
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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
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