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1. Parties: Identifies the original lessor, original lessee, and new lessee (incoming party)
2. Background: Recitals explaining the existing lease arrangement, reason for novation, and intention of all parties
3. Definitions: Defines key terms including Original Lease, Effective Date, Property, and other relevant terms
4. Novation: Core clause effecting the transfer of rights and obligations from original lessee to new lessee
5. Release of Original Lessee: Formal release of original lessee from obligations under the lease
6. Assumption by New Lessee: New lessee's assumption of all obligations and liabilities under the lease
7. Lessor's Consent: Express consent of lessor to the novation and continuing obligations
8. Representations and Warranties: Statements of fact and promises by all parties regarding their capacity and authority
9. Effective Date and Term: Specifies when the novation takes effect and confirms remaining lease term
10. Costs and Stamp Duty: Allocation of costs including stamp duty and registration fees
11. Governing Law: Confirms Malaysian law as governing law and jurisdiction
12. Execution: Signature blocks for all three parties with attestation requirements
1. Security Deposit Transfer: Required when there is an existing security deposit to be transferred or replaced
2. Outstanding Amounts: Include when there are any rent arrears or other outstanding payments to be addressed
3. Renovation and Fixtures: Needed when dealing with improvements made by original lessee
4. Assignment of Warranties: Required when transferring warranties for fixtures or improvements
5. Subtenants: Include if there are existing subtenants to be addressed
6. Break Clause: Optional provision allowing early termination rights
7. Insurance Transfer: Required when existing insurance policies need to be transferred or replaced
1. Schedule 1 - Property Details: Detailed description of the leased property including address and title particulars
2. Schedule 2 - Original Lease: Copy or key terms of the original lease agreement being novated
3. Schedule 3 - Rent and Payment Terms: Current rent amount, payment dates, and review provisions
4. Schedule 4 - Condition Report: Current condition of the property at time of novation
5. Schedule 5 - Outstanding Matters: List of any pending obligations, repairs, or payments
6. Appendix A - Required Consents: Copies of any third-party consents required for the novation
7. Appendix B - Property Plans: Floor plans and location maps of the leased property
Original Lease
Property
Original Lessor
Original Lessee
New Lessee
Lease Term
Rent
Security Deposit
Permitted Use
Building
Common Areas
Lease Obligations
Novation Date
Payment Date
Premises
Rental Period
Service Charges
Title Particulars
Utilities
Working Day
Fixtures
Improvements
Insurance Requirements
Maintenance Obligations
Registration Fees
Stamp Duty
Tenancy Rights
Transfer Date
Recitals
Definitions
Interpretation
Novation
Assignment
Release and Discharge
Assumption of Obligations
Consent
Property Details
Rent and Payment
Security Deposit
Insurance
Maintenance and Repair
Utilities
Permitted Use
Access Rights
Alterations
Compliance with Laws
Representations and Warranties
Indemnification
Force Majeure
Costs and Expenses
Notices
Severability
Entire Agreement
Amendment
Waiver
Governing Law
Dispute Resolution
Execution
Real Estate
Commercial Property
Retail
Manufacturing
Industrial
Office Space
Hospitality
Healthcare
Education
Logistics
Warehousing
Legal
Real Estate
Facilities Management
Operations
Finance
Compliance
Property Management
Asset Management
Contract Administration
Corporate Services
Legal Counsel
Property Manager
Facilities Manager
Real Estate Director
Commercial Lease Manager
Asset Manager
Compliance Officer
Contract Administrator
Real Estate Attorney
Chief Financial Officer
Operations Director
Property Development Manager
Tenant Relations Manager
Corporate Real Estate Manager
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