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Assumption Agreement
"I need an Assumption Agreement under Singapore law where my company ABC Technologies Pte Ltd will take over all obligations under an existing software licensing agreement from XYZ Solutions, with the transfer to be effective from 1 March 2025."
1. Parties: Identification of all parties involved in the assumption agreement
2. Background: Context of the original agreement and reason for assumption
3. Definitions: Key terms used throughout the agreement
4. Assumption of Rights and Obligations: Core provisions detailing what is being assumed
5. Effective Date: When the assumption takes effect
6. Representations and Warranties: Statements of fact by the parties
7. Governing Law: Specification of Singapore law as governing law
1. Consent of Original Parties: Required if original agreement requires consent for assumption
2. Partial Assumption Provisions: Details which obligations are assumed and which remain with original party
3. Security Provisions: Details of any security provided for the assumption
4. Novation Provisions: Provisions for complete transfer of rights and obligations when assumption amounts to novation
1. Schedule 1 - Original Agreement: Copy of the agreement being assumed
2. Schedule 2 - List of Assumed Rights and Obligations: Detailed list of what is being assumed
3. Schedule 3 - Consent Documents: Any required consent documentation from original parties
4. Schedule 4 - Security Documents: If security is involved, relevant security documentation
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