Business Letters Library – Assignment of Lease Form

 

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53. Apology and Tender of Compensation

54. Apology for Accounting Errors and Past Due Notices

55. Apology for Delay of Refund

56. Apology for Delayed Response and Request for Meeting

57. Apology for Not Crediting Payment from Prompt Payer

58. Apology for Not Crediting Payment

59. Apology for Overshippment

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61. Apology to Customer for Accounting Error

62. Apology to Receiver of NSF Check

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73. Assignment of Lease Form

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ASSIGNMENT OF LEASE

ASSIGNMENT of lease by and between _ [Tenant], and _ [Sub-Tenant], and _ [Landlord].
For good consideration, it is agreed by and between the parties that:

1. Tenant hereby assigns, transfers and delivers to Sub-Tenant all of Tenant's rights in and to a certain lease between Tenant and Landlord for certain premises
known as [Describe]_, under lease dated _, 20_. [Lease]

2. Sub-Tenant agrees to accept said Lease, pay all rents and punctually perform all of Tenant's obligations under said Lease accruing on and after the date of delivery of possession to the Sub-Tenant as contained herein. Sub-Tenant further agrees to indemnify and save harmless the Tenant from any breach of Sub-Tenant's obligations hereunder.

3. The parties acknowledge that Tenant shall deliver possession of the leased premises to Sub-Tenant on _, 20_; time being of the essence. All rents and other charges accrued under the Lease prior to said date shall be fully paid by Tenant, and thereafter by the Sub-Tenant.

4. Landlord hereby assents to the assignment of lease, provided that:


a] Assent to the assignment shall not discharge Tenant of its obligations under the Lease in the event of breach by Sub-Tenant.
b] In the event of breach by Sub-Tenant, Landlord shall provide Tenant with written notice of same and Tenant shall have full rights to commence all actions to recover possession of the leased premises [in the name of Landlord, if necessary] and retain all rights for the duration of said Lease provided it shall pay all accrued rents and cure any other default.
c] There shall be no further assignment of lease without prior written consent of Landlord.


5. This agreement shall be binding upon and inure to the benefit of the parties, their successors, assigns and personal representatives.


Signed under seal this _ day of _, 20_.

______________________________
Tenant

______________________________
Sub-Tenant

______________________________
Landlord


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