Assignment and Assumption Agreement and Optional Novation (FL) | Practical Law

Assignment and Assumption Agreement and Optional Novation (FL) | Practical Law

An agreement to be used when a party transfers specified contracts to another party, including an assignment of all of its contractual rights and delegation of all of its contractual duties under Florida law. This form contains provisions to incorporate an assumption of the delegated obligations and an optional novation into the assignment agreement. It also includes common representations and warranties, indemnification provisions, and refund of escrow deposits found in assignment and assumption agreements. This Standard Document has integrated notes with important explanations and drafting and negotiating tips.

Assignment and Assumption Agreement and Optional Novation (FL)

Practical Law Standard Document w-004-3314 (Approx. 24 pages)

Assignment and Assumption Agreement and Optional Novation (FL)

by Practical Law Commercial Transactions
MaintainedFlorida
An agreement to be used when a party transfers specified contracts to another party, including an assignment of all of its contractual rights and delegation of all of its contractual duties under Florida law. This form contains provisions to incorporate an assumption of the delegated obligations and an optional novation into the assignment agreement. It also includes common representations and warranties, indemnification provisions, and refund of escrow deposits found in assignment and assumption agreements. This Standard Document has integrated notes with important explanations and drafting and negotiating tips.