Assignment of Equipment Lease
This Assignment of Equipment Lease (“Assignment”) is made as of _______________ (Date)
by and between ___________________________ Original Lessee (“Assignor”) of
_______________________________ (Address) and ___________________________ New
Lessee (“Assignee”) of _______________________________________________.
Whereas by a lease dated _________ made between ____________________, the original
Lessor (the "Lessor") and the Assignor (the "Lease"), the Lessor leased to the Assignor
___________________________________________ ("Equipment"), subject to the covenants
and agreements contained in the Lease, a copy of which is attached hereto as Exhibit 1; and
the Assignor wishes to assign to the Assignee, and the Assignee wishes to be assigned, the
Therefore in consideration of the mutual covenants and agreements contained herein and for
other good and valuable consideration (the receipt and sufficiency of which is hereby
acknowledged) the parties hereby agree as follows:
1. The Assignor hereby assigns to the Assignee its interest in the Equipment and the Lease
and all benefit and advantage to be derived there from.
2. The Assignee covenants and agrees to pay the monthly lease payments and observe and
perform all of the lessee's covenants and obligations contained in the Lease.
3. The Assignee agrees to be bound by all the terms, covenants, conditions and obligations
in the Lease as if the Assignee had entered into the Lease with the Lessor and as if the
Assignee were the original lessee under the L
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This is a straightforward Assignment Agreement, which may be modified for other assignments.
Make multiple copies so all parties may have one original copy. Include a copy in your minute book, make it available to any financial institution that requires you to provide copies of capital equipment obligations, and keep a separate copy in the equipment lease or vendor file.
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