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Assignment Of Purchase Agreement
"I need an Assignment of Purchase Agreement to transfer my rights as purchaser of a residential property in Mumbai to my company, with completion scheduled for March 15, 2025; the original purchase agreement was signed in 2024 and the original seller's consent has already been obtained."
1. Parties: Identifies the Assignor (original purchaser), Assignee (new purchaser), and Original Seller
2. Background: Recitals explaining the original purchase agreement, reason for assignment, and basic transaction structure
3. Definitions: Defines key terms including Original Agreement, Property, Assignment Date, and Consideration
4. Assignment: Core clause transferring rights and obligations under the purchase agreement from Assignor to Assignee
5. Consideration: Details of payment or consideration for the assignment
6. Representations and Warranties: Assignor's warranties about the purchase agreement, property, and authority to assign
7. Assignor's Covenants: Ongoing obligations of the Assignor, including cooperation and documentation
8. Assignee's Covenants: Undertakings by the Assignee to perform original agreement obligations
9. Original Seller's Consent: Acknowledgment and consent to the assignment by the original seller
10. Completion: Process and requirements for completing the assignment
11. Governing Law and Jurisdiction: Specifies Indian law as governing law and relevant jurisdiction for disputes
12. Notices: Communication procedures between parties
13. Execution: Signature blocks and execution formalities
1. Conditions Precedent: Used when assignment is subject to specific conditions being met first
2. Partial Assignment: Include when only certain rights/obligations are being assigned rather than the entire agreement
3. Security Provisions: Required when assignment involves security arrangements or deposits
4. Third Party Rights: Include when assignment affects rights of parties beyond the main three
5. Tax Provisions: Detailed tax implications and responsibilities when significant tax considerations exist
6. Further Assurance: Additional commitments for future actions, used in complex assignments
7. Confidentiality: Include when sensitive information is involved in the assignment
1. Schedule 1 - Original Purchase Agreement: Copy or details of the original purchase agreement being assigned
2. Schedule 2 - Property Details: Detailed description of the property or assets involved
3. Schedule 3 - Outstanding Obligations: List of remaining obligations under the original agreement
4. Schedule 4 - Assignment Consideration: Detailed breakdown of assignment price and payment terms
5. Schedule 5 - Completion Requirements: Checklist of documents and actions required for completion
6. Appendix A - Consent Documents: Required consents from original seller or other parties
7. Appendix B - Property Documents: Relevant property certificates, permits, or title documents
Authors
Real Estate
Manufacturing
Construction
Commercial Property
Industrial
Retail
Infrastructure
Technology
Energy
Agriculture
Legal
Real Estate
Compliance
Corporate Affairs
Business Development
Property Management
Procurement
Commercial Operations
Project Management
Risk Management
Legal Counsel
Corporate Lawyer
Property Manager
Real Estate Manager
Contract Administrator
Business Development Manager
Chief Legal Officer
Property Developer
Compliance Officer
Transaction Manager
Commercial Director
Project Manager
Procurement Manager
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