Fillable Printable Assignment of Lease Form
Fillable Printable Assignment of Lease Form
Assignment of Lease Form
ASSIGNMENT AND ASSUMPTION OF LEASES
THIS ASSIGNMENT made as of ,
B E T W E E N:
[VENDOR]
(the “Assignor”)
A N D:
[PURCHASER]
(the “Assignee”)
WHEREAS the Assignor is the owner of those lands and premises (the “Property”)
known municipally as [municipal address of property] and more particularly described as
[legal description of property];
AND WHEREAS the parties have entered into an Agreement of Purchase and Sale dated
(as amended from time to time, the “Purchase Agreement”), pursuant to which the Assignor
agreed to sell and the Assignee agreed to purchase the Property on the terms and conditions
described therein;
AND WHEREAS the Assignor did lease [portions of] the Property pursuant to certain
leases (each of which is referred to herein as a “Lease” and are collectively referred to as the
“Leases”), as set out on Schedule “A” hereto;
AND WHEREAS the Assignor has agreed to assign the Leases to the Assignee on the
terms and conditions contained herein.
NOW THEREFORE THIS ASSIGNMENT WITNESSES that in consideration of the
sum of TWO ($2.00) DOLLARS and other good and valuable consideration (the receipt and
sufficiency of which is hereby acknowledged), the parties agree as follows:
1. The Assignor hereby assigns, transfers, sets over and conveys unto the Assignee all of its
right, title, estate and interest in and to the Leases and all rents and other amounts payable
thereunder and the benefit of all the covenants therein by the tenant and all other parties thereto
to have and to hold same unto the Assignee for its sole and only use forever.
2. The Assignor covenants, represents and warrants that it has full power and authority to
assign, transfer, set over and convey the Leases.
3. The Assignee does hereby covenant and agree to perform all the obligations of the
Assignor under the Leases arising after the delivery of this Assignment.
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4. The Assignor hereby indemnifies and save harmless the Assignee as and from all claims,
actions, suits, costs, losses, charges, damages and expenses arising out of, or in relation to the
Leases in respect of any matter occurring before, but not including, the date of this Assignment.
5. The Assignee hereby indemnifies and save harmless the Assignor as and from all claims,
actions, suits, costs, losses, charges, damages and expenses arising out of, or in relation to the
Leases in respect of any matter occurring on or after the date of this Assignment.
6. Each party hereby agrees from time to time, and at any time hereafter, to execute such
further assurances as may be reasonably required for more effectively assigning the interest of
the Assignor in the Leases, together with all benefits and advantages to be derived therefrom and
to carry out the true intention of this Assignment.
7. This Assignment shall enure to the benefit of and be binding upon the parties hereto and
their respective successors and permitted assigns.
8. This Assignment shall be governed by and interpreted and enforced in accordance with
the laws of the Province of Ontario and the federal laws of Canada applicable therein.
9. This Assignment may be executed in any number of counterparts and all of such
counterparts taken together shall be deemed to constitute one and the same instrument.
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10. This Assignment and/or counterparts hereof, may also be executed either in original, PDF
and/or faxed form and the parties adopt any signatures received by a receiving fax machine or
PDF as original signatures of the parties.
IN WITNESS WHEREOF each of the parties hereto have duly executed this
Assignment.
[Assignor]
Per:
Name:
Title:
Per:
Name:
Title:
We have authority to bind the Corporation.
[Assignee]
Per:
Name:
Title:
Per:
Name:
Title:
We have authority to bind the Corporation.
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SCHEDULE “A”
[LIST OF LEASES TO BE ASSIGNED]
