An Assignment of Sublease is when a tenant leases all, or a just a portion of, the premises they are leasing from a landlord to a third party. Some leases require the permission of the landlord for the sublease to be valid and binding. If necessary, this agreement verifies that the landlord consents to the sublease. This document is ideal for entities or individuals who want to sublease all or just a portion of a specific piece of property.
An Assignment of Sublease is when a tenant leases all, or a just a portion of, the premises they are leasing from a landlord to a third party. Some leases require the permission of the landlord for the sublease to be valid and binding. If necessary, this agreement verifies that the landlord consents to the sublease. This document is ideal for entities or individuals who want to sublease all or just a portion of a specific piece of property. ASSIGNMENT OF SUBLEASE This Assignment of Sublease Agreement (this “Assignment”) is hereby entered into on this ____________ day of _______________, _______ by and between _______________ (“Assignor”) and __________ (“Assignee”). WHEREAS, by a Master Lease fully executed on the ______ day of ___________, _________ (the “Lease”), _______________________ (“Landlord”) leased to Assignor the certain premises municipally known as ___________________________________ [ADDRESS OF PREMISES], more fully described in Exhibit “A” attached hereto (the “Leased Premises”), consisting of approximately __________ [AMOUNT IN WORDS] (___ [AMOUNT IN NUMERALS]) square feet, for a term of __________ [AMOUNT IN WORDS] (___ [AMOUNT IN NUMERALS]) years beginning ________, ____ [STARTING DATE] and subject to the terms and conditions set forth therein; WHEREAS, Assignor entered into a Sublease dated the _____ day of __________, _________ (the “Sublease”) wherein Assignor agreed to sublease and Assignee agreed to sublet the Leased Premises for a term of __________ [AMOUNT IN WORDS] (___ [AMOUNT IN NUMERALS]) years, less a day, commencing ________, ____ [STARTING DATE] and subject to the terms and conditions set forth therein; WHEREAS, Assignor, subject to Landlord’s consent as received, has agreed to sell and assign its/his/her unexpired residual interest in the Sublease as amended unto the Assignee, and Assignee has agreed to accept assignment of the Sublease; WHEREAS, Assignor shall not be released from its/his/her obligations under the Sublease; and WHEREAS, Assignor and Assignee consent to this Assignment on the following terms and conditions. NOW, THEREFORE, in consideration of the respective covenants and conditions herein contained and the sum of _______ dollars ($____) now paid by Assignee to Assignor, the receipt and sufficiency whereof is hereby acknowledged, Assignor does hereby grant and assign unto the Assignee, Assignor’s interest in the Leased Premises together with the unexpired residue of the said term of years and all renewals thereof and the Sublease and all benefits to be derived therefrom, subject to the payment of the rents and the observance and performance of the covenants, provisions, and conditions by Sublease contained therein. AND Assignee hereby covenants to assume and perform all of the terms, covenants, conditions, and agreements imposed by the Sublease as if it were an original signatory thereto. AND Assignor hereby covenants with Assignee that: (1) notwithstanding any act by Assignor, the Sublease is a good, valid, and subsisting sublease; (2) the rent reserved thereby has been duly paid up to the __________ day of __________; (3) the covenants, provisos, and conditions of Assignor have been duly observed and performed up to and including the date hereof; (4) Assignor is entitled to assign the Sublease; (5) subject to the payment of the rent and the © Copyright 2013 Docstoc Inc. registered document proprietary, copy not 2 observance and performance of the covenants, provisos, and conditions of the Sublease, Assignee may enjoy the Premises for the residue of the said term of years and any renewals thereof, without interruption by Assignor or any persons claiming through it; and (6) Assignor shall, at all times hereafter, at the request and cost of Assignee execute such further assurances in respect of this Assignment as Assignee may reasonably require. AND that notwithstanding the aforesaid, Assignor now has in his good right, full power and absolute authority to assign the said Leased Premises and Sublease in the manner set forth herein, according to the true intent and meaning of this Assignment, subject to the consent of Landlord, as received. AND that in accordance with paragraph ______ [PARAGRAPH NUMBER] of the Sublease, Assignor shall not be released in any manner from its covenants and obligations owed under the Sublease. AND Assignee covenants with Assignor that Assignee shall and will, from time to time during all the residue of the term granted by the said Sublease and every renewal thereof (if any), pay the rent and perform Assignee’s Sublease covenants, conditions, and agreements therein reserved, and indemnify and save harmless, to the fullest extent allowed by law, Assignor therefrom and from all actions, suits, costs, losses, charges, damages, and expenses for or in respect thereof. AND it is hereby declared and agreed that this Assignment and everything herein contained shall respectively enure to the benefit and be binding upon the parties hereto, their heirs, executors, administrators, successors, and assigns respectively. AND the parties acknowledge and agree that a facsimile signature from any party executing this Assignment shall be binding upon the party. The parties further acknowledge that this Assignment may be executed in any number of counterparts, each of which shall be deemed to be an original signature and which together shall constitute one instrument. IN WITNESS THEREOF the parties hereto have executed this Assignment on the date first above written. [SIGNATURE PAGE TO FOLLOW] © Copyright 2013 Docstoc Inc. registered document proprietary, copy not 3 ) Witness: ) (Assignor) ) (ASSIGNEE) Per: Name: Title: I have authority to bind the Company. © Copyright 2013 Docstoc Inc. registered document proprietary, copy not 4
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