The Assignment Of Sublease is a crucial document in Canadian real estate and leasing transactions, used when a subtenant wishes to transfer their entire interest in a subleased property to another party. This document is essential in situations where the original subtenant needs to exit the lease arrangement before its natural expiration, whether due to business reorganization, relocation, or other circumstances. It ensures compliance with Canadian property law requirements and typically includes detailed provisions about the transfer of rights and obligations, necessary consents, and any conditions attached to the assignment. The document is particularly important as it creates a direct legal relationship between the new subtenant and the sublandlord while potentially requiring approval from the head landlord, depending on the terms of the original lease and sublease agreements.

1. Parties: Identifies all parties to the assignment: the Assignor (current subtenant), the Assignee (new subtenant), and the Sublandlord (original tenant). May also include the Head Landlord if they are party to the document

2. Background: Recitals explaining the existence of the head lease, the sublease, and the intention to assign the sublease

3. Definitions: Defines key terms used throughout the document, including 'Head Lease', 'Sublease', 'Premises', 'Assignment Date', etc

4. Assignment: Core provision assigning all rights, title, and interest in the sublease from Assignor to Assignee

5. Consideration: States the consideration being paid for the assignment

6. Assignor's Covenants: Warranties and representations from the Assignor regarding their rights to assign, status of the sublease, and any outstanding obligations

7. Assignee's Covenants: Assignee's undertaking to perform all obligations under the sublease and to be bound by its terms

8. Sublandlord's Consent: Confirmation of the Sublandlord's consent to the assignment and any conditions attached

9. Release of Assignor: Terms regarding whether and to what extent the Assignor is released from future obligations

10. Costs: Provisions regarding who bears the costs of preparing and executing the assignment

11. Governing Law: Specifies that the agreement is governed by Canadian law

12. Execution: Signature blocks and execution provisions for all parties