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Assignment Of Agreement Addendum

Assignment Of Agreement Addendum Template for Malaysia

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Assignment Of Agreement Addendum

"I need an Assignment of Agreement Addendum for transferring our Malaysian software development contract from ABC Tech Sdn Bhd to our new subsidiary XYZ Solutions Sdn Bhd, with the transfer to take effect from March 1, 2025, maintaining all original terms but adding additional data protection obligations."

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Document background
An Assignment Of Agreement Addendum is a crucial document used when one party to an existing contract wishes to transfer their rights and/or obligations to another party under Malaysian law. This document is particularly relevant in business restructuring, mergers and acquisitions, or when companies need to reorganize their contractual relationships. The addendum must comply with Malaysian legal requirements, including the Contracts Act 1950 and Civil Law Act 1956, and typically requires proper stamping under the Stamp Act 1949. It includes essential details such as the parties involved, the rights and obligations being transferred, any modifications to the original agreement, and necessary consents or approvals.
Suggested Sections

1. Parties: Identification of the assignor, assignee, and other parties to the original agreement

2. Background: Context of the original agreement and reason for the assignment

3. Definitions: Key terms used in the addendum, including references to defined terms in the original agreement

4. Assignment: Core clause detailing the assignment of rights and obligations

5. Effective Date: Specification of when the assignment takes effect

6. Consideration: Details of any payment or consideration for the assignment

7. Continuing Obligations: Specification of ongoing responsibilities of all parties

8. Governing Law: Confirmation of Malaysian law as governing law

9. Execution: Signature blocks and execution requirements

Optional Sections

1. Third Party Consent: Required when the original agreement requires consent from other parties for assignment

2. Regulatory Compliance: Needed when the assignment requires specific regulatory approvals or notifications

3. Security and Guarantees: Used when additional security or guarantees are required for the assignment

4. Partial Assignment: Required when only certain rights or obligations are being assigned

5. Representations and Warranties: Additional assurances specific to the assignment transaction

Suggested Schedules

1. Schedule 1 - Original Agreement: Copy of the agreement being assigned

2. Schedule 2 - Specific Terms Being Modified: Detailed list of any terms in the original agreement being modified by this addendum

3. Schedule 3 - Assignment Rights and Obligations: Detailed description of the specific rights and obligations being assigned

4. Appendix A - Consent Documents: Any required third-party consents or regulatory approvals

5. Appendix B - Related Agreements: Any other agreements referenced or affected by this assignment

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈË°æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
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Relevant Industries

Financial Services

Real Estate

Construction

Manufacturing

Technology

Healthcare

Energy

Telecommunications

Professional Services

Retail

Relevant Teams

Legal

Compliance

Corporate Secretariat

Commercial

Operations

Business Development

Risk Management

Finance

Procurement

Project Management

Relevant Roles

Legal Counsel

Contract Manager

Business Development Manager

Chief Legal Officer

Corporate Secretary

Compliance Officer

Risk Manager

Commercial Director

Operations Manager

Project Manager

Industries





Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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