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1. Parties: Identifies the Original Lessor, Original Lessee, and New Party (either new lessor or new lessee)
2. Background: Recitals explaining the original lease agreement, reason for novation, and intention of the parties
3. Definitions: Defines key terms used throughout the agreement, including 'Original Lease', 'Effective Date', and 'Property'
4. Novation: Core clause effecting the novation, transfer of rights and obligations, and release of the outgoing party
5. Effective Date: Specifies when the novation takes effect and any conditions precedent
6. Continuing Obligations: Confirms which lease terms continue unchanged and any modified terms
7. Representations and Warranties: Standard warranties from all parties regarding authority, capacity, and validity
8. Costs and Stamp Duty: Allocation of costs and responsibility for stamp duty payments
9. Governing Law and Jurisdiction: Confirms Maltese law applies and establishes jurisdiction for disputes
10. Execution: Signature blocks for all three parties
1. Security Deposit Transfer: Required if there is an existing security deposit to be transferred or dealt with
2. Rent Payment Arrangements: Include if specific arrangements for ongoing rent payments need to be documented
3. Property Management: Include if there are specific property management arrangements to be addressed
4. Outstanding Obligations: Include if there are any outstanding obligations or payments to be settled as part of the novation
5. Guarantor Provisions: Required if the original lease included guarantors or new guarantors are being added
6. VAT Provisions: Include for commercial properties where VAT is applicable
7. Insurance Arrangements: Include if specific insurance arrangements need to be transferred or modified
1. Schedule 1 - Original Lease: Copy or details of the original lease agreement being novated
2. Schedule 2 - Property Details: Detailed description of the leased property including any plans or drawings
3. Schedule 3 - Rent and Payment Details: Specific details of rent amounts, payment dates, and payment methods
4. Schedule 4 - Inventory: List of any furniture, fixtures, or equipment included in the lease
5. Schedule 5 - Outstanding Matters: List of any outstanding obligations or payments to be addressed
6. Appendix A - Required Notices: Copies of any notices or consents required for the novation
7. Appendix B - Condition Report: Current condition report of the property at time of novation
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