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Delaware _______________ Assignment of Equipment Lease 3 ned, Owner in the Master Lease, hereby consents to the foregoing Assignment. OWNER: ____________________________________________________ ___________________________________ (Name) Date: ___________________________________________ (Name) ___________________________________ (Position, if applicable) OWNER'S CONSENT If Owner's consent is not required, Assignor shall initial here [____]. The undersig________________________ ___________________________________ (Name) ___________________________________ (Position, if applicable) ASSIGNEE: ____________________________________________________ ___________________ Assignment of Equipment Lease 2 IN WITNESS WHEREOF, the Parties have caused this Assignment to be executed the day and year first above written. ASSIGNOR: ______________________________________________________________________________________________ ________________________________________________________________________ ___________________________________________________________________________________________________________ ________________________________________________________________________ ________________________________________________________________________ _____equently enforce and compel strict compliance with every provision of this Assignment. 10. ADDITIONAL TERMS & CONDITIONS (Specify "none" if there are no additional provisions) ________________________ime by providing notice as set forth above. 9. WAIVER: The failure of either party to enforce any provisions of this Assignment shall not be deemed a waiver or limitation of that party's right to subs_________ ________________________________ Assignee: ______________________________ ______________________________ ______________________________ Either party may change such addresses from time to tnt shall be in writing and mailed certified return receipt requested, postage prepaid, or delivered by overnight delivery service to: Assignor: ________________________________ _______________________nment shall be governed by and construed in accordance with the laws of the State of ______________________________________. 8. NOTICE: Any notice required or otherwise given pursuant to this AssignmeECT: The covenants and conditions contained in the Assignment shall apply to and bind the Parties and their heirs, legal representatives, successors and permitted assigns. 7. GOVERNING LAW: This Assigconsent is required, Assignor will obtain such consent. Assignor further warrants that the contract rights transferred in this Assignment are free of lien, encumbrance or adverse claim. 6. BINDING EFFr Lease or this Assignment. 5. ASSIGNOR'S REPRESENTATIONS: Assignor warrants that the Master Lease is in full force and effect and fully assignable or may be assigned with Owner's consent. If Owner's or will indemnify, protect and hold Assignee harmless from and against any and all loss, cost, or damage in any way related to Assignor's breach or default of the obligations or covenants in the Maste Assignor harmless from and against any and all loss, cost, or damage in any way related to Assignee's breach or default of the obligations or covenants in the Master Lease or this Assignment. Assign ________________________________________________________________ ________________________________________________________________________ 4. INDEMNIFICATION: Assignee will indemnify, protect and holde term of the lease. Assignor assigns and transfer all rights and interests in the Security Deposit, as described in ____ Section of the Master Lease, to Assignee. There is no Security Deposit. Other: a security deposit of $__________ as security for the performance by Assignee of the terms under this Assignment and for any damages caused by Assignee or Assignee's agents to the Equipment during thMaster Lease as if Assignee were the original Lessee therein. 3. SECURITY DEPOSIT: (mark applicable provision) Prior to taking possession of the Equipment, Assignee shall deposit with Owner, in trust,ment and the Master Lease arising or accruing on or after the date of this Assignment. Assignee agrees to comply with all the terms, make all payments, and perform all conditions and covenants in the ection 3 below. 2. ASSUMPTION OF OBLIGATIONS: Assignee acknowledges the receipt of a copy of the Master Lease. Assignee hereby assumes all of Assignor's interests, rights and obligations in the Equipent"). The Parties agree as follows: 1. ASSIGNMENT: Assignor hereby assigns to Assignee all of his/her interests, rights and obligations in the Equipment and the Master Lease, except as described in S for a term ending on ______________, 20___ (the "Master Lease") for the following equipment: ________________________________________________________________________ ____________________ (the "Equipmsignor is the "Lessee" [change this label to match that in the original document] in an equipment lease agreement dated _________________ between the Assignor and ___________________________ ("Owner")___________, ___________, by and between _________________________________________ ("Assignor") and _______________________________________ ("Assignee") (collectively referred to as the "Parties"). Asrney to ensure that it addresses your specific situation. ASSIGNMENT OF EQUIPMENT LEASE This Assignment of Equipment Lease (the "Assignment") is made and entered on __________________________________nor and the Assignee should all become familiar with the laws of their state before entering into this type of arrangement. In addition, before using this form you should always consult with your attot to an assignment, so it is best to handle the situation diplomatically. These types of agreement are governed by state law. Many of the state laws differ dramatically, therefore the Owner, the Assig (the owner of the equipment). Review your original equipment lease to determine whether such consent is required. If it is, contact the Owner. The law generally does not require that the Owner consen change of business circumstances, financial concerns or other changes in circumstances. Depending on your original equipment lease, to perform an assignment you may also need the consent of the Ownerd responsibilities under that lease to another party (the "Assignee"), generally for the remainder of his/her lease term. The Assignor may choose to use an assignment for a number of reasons includingfindlegalforms.com. Information Assignment Of Equipment Lease An assignment of equipment lease is a contract where a party who originally was leasing equipment (the "Assignor") assigns his rights anparticular situation. An attorney should be consulted before negotiating any document with another party. The purchase and use of these forms is subject to the "Disclaimers and Terms of Use" found at d are not a substitute for legal advice. These forms should only be a starting point for you and should not be used or signed before first consulting with an attorney to ensure that it addresses your u can erase the italicized statements in the Assignment; these are just instructions to help you complete it. Laws vary from time to time and from state to state. These forms are not intended to be anach party will retain an original signed Assignment; therefore, at least two original copies of the Assignment should be executed (i.e. signed). The Owner may also require a copy of the Assignment. Yoe if the Owner's consent is required. The Assignor should provide the Assignee with a copy of the Master Equipment Lease Agreement. The Assignor and Assignee must both sign the Assignment. Generally e a party may assign its rights in a lease, the consent of the owner of the equipment (the "Owner") is required. You should review your Master Equipment Lease Agreement (the original lease) to determinent Lease (the "Assignment"). Both the Assignor (the original lessee) and the Assignee (the new lessee) should review the Assignment carefully before signing. Most Equipment Leases require that beforeInstructions & Checklist Assignment Of Equipment Lease This package contains: (1) Instructions and Checklist; (2) Information about the Assignment of Equipment Lease; and (3) The Assignment of Equipm Delaware