Australia Assignment of Equipment Lease Agreement

Assignment of Equipment Lease Agreement

Comprehensive -- Long form

Use this Assignment of Equipment Lease Agreement, when the lesssee under an equipment lease “the assignor” wishes to transfer their rights and obligations under such lease to another party “the assignee”

This document protects “the assignor” by “the assignees” acceptance of all the terms and obligations of the Lease imposed on the assignor, indemnifying the assignor from claim or damage. Once executed with the Lessors permission, the lessor may no longer seek to recover any money’s owed by reason of default of the assignee. more

This document was drafted to assure maximum legal protection at a minimum cost to you. It is written in plain English for simplicity of use and readability.

To use a contract, simply insert all relevant details in the appropriate space and go to print. It's that simple!

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Assignment of Equipment Lease Agreement. NOW THEREFORE, for a good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, Assignor does hereby assign to Assignee, its successors and assigns, all of its right, title, and interest in the "Equipment Lease" dated [date] and marked as Exhibit A (Lease)

1. Parties. This Assignment is made as of [date], between [name: Individual/Company/Lending Institution], a company having principal office at [address](Assignor), and [name], a company having principal office at [address] (Assignee).

2. Lease. Assignor is the present lessee under an Equipment lease dated [date] between Assignor and [name], as owner (Individual/ Company/Lending Institution) of said equipment. A true and complete copy of such "Equipment Lease" is attached as Exhibit A (Lease)

[omitted].

3. Assignment and Assumption.

a. Assignment by Assignor. Assignor assigns to Assignee all of Assignor's rights and interest in the aforementioned "Equipment Lease" and the leased Agreement, including the Security Deposit of ---------- dollars ($----------) held by Landlord. This Assignment is effective as of [date] (Effective Date).

b. Assumption by Assignee. Assignee assumes, as of the Effective Date, all of the terms and obligations of the original Equipment Lease that are imposed on Assignor. Assignee will indemnify and hold Assignor harmless against any claim or damage (including

a. Full Force. Assignor represents and warrants that the Equipment Lease is in full force

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