Consent To Assignment Of A Contract

This review list is intended to educate you about this document and to aid you in its preparation. This is a straightforward approval form that benefits those seeking consent by letting the former obligor off the hook, so to speak. The consenting signatory may choose to amend this to consent to the agreement while keeping the original assignor liable for the contract’s responsibilities. This can be stated in the contract by specifying that “Notwithstanding the consent to assignment, the original Obligor, referred to herein as the Assignor, remains fully liable under the Agreement as if this Assignment never occurred,” or something similar.

 

1. Make several copies. Each signatory should receive one. Maintain one beside the transaction file.

 

2. If you are seeking authorization, this is a basic form to send out with a cover letter (or none, as desired) requesting approval of the assignment.

 

Consent to Assignment of a Contract

___________________, and _____________________ referred to as ASSIGNOR, and ______________________, referred to as ASSIGNEE, agree:

That ______________________ and ASSIGNOR entered into a contract on ________________________for _________________________________ _______________________________, and that the contract requires consent of _______________________ to assignment by ASSIGNOR of the contract rights and obligations.

________________________ hereby consents to the assignment of the contract rights and obligations of ASSIGNOR to ASSIGNEE.

ASSIGNOR, upon such assumption, shall be discharged from any further obligations under the lease.

That in all other respects the lease is ratified, and the terms and conditions of the occupation of ASSIGNEE shall be the same as those of the original lease.

Dated: ______________________
___________________________________
Signatory Consenting

___________________________________
Assignor

___________________________________
Assignee

Consent to Assignment of a Contract
Review List

This review list is provided to inform you about this document in question and assist you in its preparation. This is a simple consent form that favors the people seeking the consent since it lets the old obligor off the hook, so to speak. The signatory consenting may want to modify this to consent to the agreement but keep the original assignor on the hook for the obligations of the contract. This can be written into the contract by stating that “Notwithstanding the assent to assignment, the original Obligor, referred to herein as the Assignor, remains fully responsible under the Agreement just as if this Assignment never took place,” or some such language.

1. Make multiple copies. Give one to each signatory. Keep one with the transaction file.
2. If you are seeking the consent, this is a simple form to send out with a cover letter (or not, as you choose) relating to the request for approval of the assignment.

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