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An Assignment Of Management Agreement is utilized when there is a need to transfer the rights and responsibilities of an existing property management contract from one service provider to another in Hong Kong. This document is essential in scenarios such as corporate restructuring, acquisition of management businesses, or when a client wishes to change service providers while maintaining the same contractual terms. The agreement must comply with Hong Kong's Property Management Services Ordinance and related regulations, ensuring proper licensing and regulatory compliance. It typically includes detailed provisions for the transition of services, transfer of records and operational documents, employee matters, and ongoing obligations. The document is crucial for maintaining continuity of property management services while protecting the interests of all parties involved.

1. Parties: Identifies the Assignor (current manager), Assignee (new manager), and Client (property owner/management company)

2. Background: Recitals explaining the original management agreement, the intent to assign, and confirmation of client consent

3. Definitions: Defines key terms including Original Agreement, Effective Date, Assigned Rights, and other relevant terms

4. Assignment: Core clause detailing the assignment of rights and obligations from Assignor to Assignee

5. Effective Date and Conditions Precedent: Specifies when the assignment takes effect and any conditions that must be met

6. Assignor's Obligations: Details the Assignor's continuing obligations and warranties regarding the agreement being assigned

7. Assignee's Obligations: Specifies the Assignee's undertakings to perform the management services and comply with the original agreement

8. Client Acknowledgment: Confirmation of the Client's consent and any specific requirements or conditions

9. Handover and Transition: Procedures for transferring responsibilities, documents, and operational control

10. Representations and Warranties: Standard representations from all parties regarding authority and capacity to enter into the assignment

11. Governing Law and Jurisdiction: Specifies Hong Kong law as governing law and jurisdiction for disputes

12. Execution: Signature blocks for all parties