DEED OF NOVATION
Agreement made on the ________ day of ________, 2009 (date) between and among the following parties:
________________of ________________ in the State of Queensland, hereafter referred to as the Supplier.
and
______________________________, of _______________________ in the State of Queensland, hereafter referred to as the Business.
and _____________________________________________ of ______________________, __________________________ in the State of Queensland, hereafter referred to as the Substituting Party.
CONTRACT SUBJECT TO THIS DEED This Deed of Novation is entered into with reference to _________________ Contract entered into between The Supplier and The Business, dated ______________, involving the provision of __________________. A copy of the contract, marked Exhibit __________, is attached to this agreement.
DEED OF NOVATION It is agreed by all parties in this Deed of Novation that the Substituting Party shall be substituted in place of The Business in the above-referenced contract. The Substituting Party shall acquire all the rights and become obligated to perform all the duties of the Business that are here fully assigned and delegated to the Substituting Party, who undertakes full performance of the above-referenced contract in the place of the Business and makes a separate promise to faithfully and fully so perform.
RELEASE OF THE BUSINESS FROM LIABILITIES In consideration of this Deed of Novation, The Business shall be relieved of any and all further obligations to perform under the above-referenced ________________ Contract and shall be fully relieved of further liability to any other party to this Deed of Novation arising out of the above-referenced _______________________ Contract. In witness whereof, the parties have executed this agreement at _________________ (designate place of execution) the day and year first above written.
_______________________ for ___________________ (The Supplier) Signature
_______________________ for ___________________ (The Business Signature
_______________________ for ___________________________________________ Signature (The Substituting Party)