An Assignment Of Management Agreement is utilized when a party wishes to transfer their rights and obligations under an existing management agreement to a third party. This document, governed by English and Welsh law, is commonly used in corporate restructuring, business sales, or strategic realignments. It outlines the terms of transfer, includes necessary consents, addresses ongoing obligations, and ensures compliance with legal requirements. The agreement typically includes provisions for the assumption of duties, liability arrangements, and operational continuity measures.
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1. Parties: Identifies the assignor, assignee, and other relevant parties
2. Background: Details of the original management agreement and reason for assignment
3. Definitions: Key terms used throughout the document including defined terms from original agreement
4. Assignment: Core provisions detailing the assignment of rights and obligations
5. Effective Date: When the assignment takes effect and timing provisions
6. Governing Law: Confirms English and Welsh law applies
1. Warranties: Used when specific assurances are required about the management agreement's status and validity
2. Indemnities: Protection against specific risks and allocation of liabilities between parties
3. Consent Provisions: Details of any required third-party consents and conditions precedent
1. Schedule 1 - Original Management Agreement: Copy of the agreement being assigned
2. Schedule 2 - Specific Rights and Obligations: Detailed list of rights, obligations and liabilities being assigned
3. Schedule 3 - Consent Documents: Copies of any third-party consents obtained
4. Schedule 4 - Transfer Documents: Any additional documentation required to effect the transfer
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