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1. Parties: Identifies all parties to the agreement: the original obligor (transferor), the assuming party (transferee), and the counterparty consenting to the assumption
2. Background: Recitals explaining the context of the original agreement, the desire to transfer obligations, and the purpose of this assumption
3. Definitions: Defines key terms used throughout the agreement, including references to the original agreement and assumed obligations
4. Assumption of Rights and Obligations: Core provision detailing which rights and obligations are being assumed by the transferee
5. Effective Date: Specifies when the assumption becomes effective and any conditions precedent
6. Representations and Warranties: Standard representations from all parties regarding their capacity and authority to enter into the agreement
7. Original Obligor's Obligations: Describes any continuing obligations or releases of the original obligor
8. Counterparty Consent: Express consent from the counterparty to the assumption and any conditions attached
9. Notices: Contact details and procedures for formal communications between parties
10. Governing Law and Jurisdiction: Specifies applicable law and courts having jurisdiction
11. General Provisions: Standard boilerplate provisions including entire agreement, amendments, severability, etc.
12. Execution: Signature blocks for all parties
1. Security Arrangements: Required when the assumed obligations involve security interests or guarantees
2. Stamp Duty: Include when the assumption triggers stamp duty obligations to specify who bears the cost
3. Transitional Provisions: Used when the assumption requires a transition period or phased implementation
4. Novation Provisions: Include when the arrangement is structured as a novation rather than pure assumption
5. Third Party Consents: Required when additional third party approvals are needed beyond the main counterparty
6. Intellectual Property: Include when the assumed rights/obligations involve IP rights
7. Costs and Expenses: Optional section specifying who bears various transaction costs
8. Confidentiality: Include when sensitive information is involved in the assumption
1. Original Agreement: Copy or extract of the agreement containing the rights and obligations being assumed
2. Assumed Rights and Obligations: Detailed list or description of specific rights and obligations being transferred
3. Completion Requirements: Checklist of actions required to complete the assumption
4. Required Consents: List of all required third-party consents and their status
5. Form of Notices: Template notices to be sent to relevant parties regarding the assumption
6. Security Documents: Copies of relevant security documents if applicable
7. Existing Claims or Disputes: Schedule of any ongoing claims or disputes related to the assumed obligations
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Retail
Technology
Agriculture
Transportation
Professional Services
Legal
Finance
Commercial
Operations
Risk & Compliance
Corporate Development
Business Development
Treasury
Contract Administration
Company Secretariat
Legal Counsel
Contract Manager
Chief Legal Officer
Commercial Director
Project Manager
Corporate Lawyer
Transaction Manager
Compliance Officer
Risk Manager
Business Development Manager
Chief Financial Officer
Finance Manager
Company Secretary
Operations Manager
General Counsel
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