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 _, 19_. [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 _,
19_; 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
