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Assignment Of Lease
"I need an Assignment of Lease agreement for transferring my retail store lease in Jakarta to a new tenant, with the original lease expiring in March 2025, and including provisions for the transfer of existing store fixtures and security deposit."
1. Parties: Identification of the Assignor (current tenant), Assignee (new tenant), and Landlord
2. Background: Recitals explaining the existing lease arrangement, the intention to assign, and confirmation of landlord's consent
3. Definitions: Definitions of key terms used throughout the agreement, including Property, Lease, Assignment Date, etc.
4. Assignment: Core provision transferring all rights and obligations under the lease from Assignor to Assignee
5. Consideration: Details of any payment made by the Assignee to the Assignor for the assignment
6. Effective Date: Specification of when the assignment takes effect
7. Assignor's Covenants: Warranties and obligations of the original tenant, including statements about the lease's good standing
8. Assignee's Covenants: New tenant's commitments to comply with lease terms and obligations
9. Landlord's Consent: Formal documentation of the landlord's approval of the assignment
10. Registration: Requirements for registering the assignment with relevant authorities
11. Costs: Allocation of costs related to the assignment process
12. Governing Law: Specification of Indonesian law as governing law and relevant jurisdiction
1. Security Deposit Transfer: Terms for transferring the existing security deposit from Assignor to Assignee, used when there's an existing deposit
2. Outstanding Liabilities: Provisions dealing with any existing arrears or obligations, included when there are outstanding issues
3. Guarantor: Details of any guarantor arrangements, required when the Assignee needs to provide a guarantor
4. Break Clause: Terms allowing early termination, included when parties want this flexibility
5. Condition of Premises: Detailed description of property condition at assignment, used for high-value or complex properties
6. Utilities and Services: Provisions for transferring utility accounts and services, needed for full-service buildings
7. Insurance: Specific insurance requirements and transfer provisions, important for high-value properties
1. Schedule 1 - The Property: Detailed description of the leased property, including floor plans and boundaries
2. Schedule 2 - The Original Lease: Copy or details of the original lease agreement being assigned
3. Schedule 3 - Inventory: List of any fixtures, fittings, or equipment included in the assignment
4. Schedule 4 - Condition Report: Detailed report on the condition of the property at the time of assignment
5. Schedule 5 - Outstanding Matters: List of any ongoing maintenance issues or unresolved matters
6. Appendix A - Required Consents: Copies of all necessary consents and approvals from the landlord and other relevant parties
7. Appendix B - Registration Documents: Forms and documents required for official registration of the assignment
Authors
Real Estate
Retail
Manufacturing
Commercial Office
Industrial
Hospitality
Warehousing & Logistics
Healthcare
Education
Food & Beverage
Technology
Legal
Real Estate
Facilities Management
Operations
Finance
Commercial
Compliance
Property Management
Asset Management
Contract Administration
Property Manager
Real Estate Manager
Legal Counsel
Corporate Lawyer
Facilities Manager
Operations Director
Chief Financial Officer
Commercial Director
Business Development Manager
Asset Manager
Lease Administrator
Property Administrator
Compliance Officer
Real Estate Director
Contract Manager
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