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Deed Of Assignment And Assumption

Deed Of Assignment And Assumption Template for United Arab Emirates

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Key Requirements PROMPT example:

Deed Of Assignment And Assumption

"I need a Deed of Assignment and Assumption under UAE law to transfer all rights and obligations under our software licensing agreement from our Dubai subsidiary to our Abu Dhabi parent company, effective March 1, 2025."

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Document background
The Deed of Assignment and Assumption is a crucial legal instrument in the United Arab Emirates used to formally document and effect the transfer of rights, obligations, and/or property between parties. This document type is commonly employed in various commercial contexts, including business sales, contract transfers, asset disposals, and corporate restructuring. The deed must comply with UAE Federal Law No. 5 of 1985 (Civil Code) and related legislation, requiring proper notarization and authentication. It provides a comprehensive framework for assignments, detailing the rights being transferred, obligations being assumed, and necessary warranties and representations. The document is particularly important in the UAE context where formal documentation and specific legal requirements must be met for effective transfers of rights and obligations.
Suggested Sections

1. Parties: Identifies and defines the Assignor, Assignee, and any other relevant parties to the deed

2. Background: Explains the context of the assignment, including reference to the original agreement/rights being assigned

3. Definitions: Defines key terms used throughout the deed

4. Assignment: Details the rights, interests, and/or property being assigned from Assignor to Assignee

5. Assumption of Obligations: Specifies the obligations being assumed by the Assignee

6. Consideration: States the consideration being paid for the assignment

7. Effective Date: Specifies when the assignment takes effect

8. Representations and Warranties: Contains representations and warranties from both Assignor and Assignee

9. Further Assurance: Obligation to execute further documents and take additional steps if needed

10. Governing Law and Jurisdiction: Specifies UAE law as governing law and jurisdiction for disputes

11. Execution: Formal execution block meeting UAE requirements for deeds

Optional Sections

1. Consent of Third Parties: Required when the original agreement requires consent for assignment

2. Release of Assignor: Optional clause releasing Assignor from future obligations

3. Tax Provisions: Required when the assignment has tax implications

4. Confidentiality: Required when sensitive information is involved

5. Anti-Money Laundering Compliance: Required for high-value transactions or regulated sectors

6. Severability: Optional clause addressing partial invalidity

7. Notices: Required when ongoing obligations exist between parties

Suggested Schedules

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

2. Schedule 2 - Assigned Rights: Detailed list of rights being transferred

3. Schedule 3 - Assumed Obligations: Detailed list of obligations being assumed

4. Schedule 4 - Required Consents: List of third-party consents obtained or required

5. Schedule 5 - Form of Notice: Template notice to inform relevant parties of the assignment

6. Appendix A - Supporting Documents: Any relevant supporting documentation

7. Appendix B - Powers of Attorney: If applicable, powers of attorney authorizing the assignment

Authors

Alex Denne

Head of Growth (Open Source Law) @ ¶¶Òõ¶ÌÊÓƵ | 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

Banking and Financial Services

Real Estate and Property

Construction and Infrastructure

Energy and Resources

Manufacturing

Telecommunications

Healthcare

Retail and Consumer

Technology and Software

Professional Services

Transportation and Logistics

Relevant Teams

Legal

Finance

Compliance

Commercial

Operations

Risk Management

Business Development

Corporate Secretariat

Property Management

Project Management

Relevant Roles

Legal Counsel

Corporate Lawyer

Contract Manager

Business Development Manager

Chief Financial Officer

Commercial Director

Compliance Officer

Risk Manager

Company Secretary

Transaction Manager

Asset Manager

Property Manager

Operations Director

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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