An Assignment Of Option Agreement is utilized when a party holding option rights wishes to transfer these rights to another party. This document is commonly used in the United States across various sectors, particularly in real estate, securities, and business acquisitions. The agreement must comply with federal and state-specific laws governing assignments and the underlying subject matter of the option. It typically includes details about the original option, the parties involved, consideration for the assignment, and any conditions or restrictions on the transfer. The document serves as a crucial tool for maintaining clear chains of title and rights in option transactions.
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1. Parties: Identification of assignor, assignee, and original option grantor
2. Background: Details of the original option agreement and reason for assignment
3. Definitions: Key terms used throughout the agreement including Option Agreement, Assignment Date, and Consideration
4. Assignment: Core provision transferring rights and obligations under the option
5. Consideration: Details of payment or other consideration for the assignment
6. Representations and Warranties: Statements about the validity of the option and authority to assign
7. Further Assurances: Commitment to take additional actions necessary to effect the assignment
8. Governing Law: Specification of jurisdiction and applicable law
9. Execution: Signature blocks and execution requirements
1. Consent Provisions: Required when original option agreement requires consent for assignment
2. Securities Compliance: Provisions ensuring compliance with securities laws when option relates to securities
3. Tax Provisions: Special tax treatment or allocations when assignment has significant tax implications
4. Notice Requirements: Procedures for giving notice to original option grantor when required
5. Survival Clause: Specifications of which provisions survive the completion of assignment
1. Schedule A - Original Option Agreement: Copy of the complete option agreement being assigned
2. Schedule B - Consent Documentation: Written consents from relevant parties if required
3. Schedule C - Payment Schedule: Details of consideration payment terms if paid in installments
4. Schedule D - Property Description: Detailed description of property or assets covered by the option (if applicable)
Relevant legal definitions
Agreement
Assignor
Assignee
Original Option Agreement
Original Option Grantor
Assignment Date
Option Rights
Option Property
Assignment Consideration
Option Exercise Price
Option Exercise Period
Option Exercise Notice
Effective Date
Business Day
Encumbrances
Consents
Permitted Assigns
Related Documents
Governing Law
Assignor
Assignee
Original Option Agreement
Original Option Grantor
Assignment Date
Option Rights
Option Property
Assignment Consideration
Option Exercise Price
Option Exercise Period
Option Exercise Notice
Effective Date
Business Day
Encumbrances
Consents
Permitted Assigns
Related Documents
Governing Law
Clauses
Assignment
Consideration
Representations and Warranties
Assumption of Obligations
Consent and Acknowledgment
Original Agreement Reference
Notice
Further Assurances
Governing Law
Indemnification
Severability
Entire Agreement
Amendment
Waiver
Counterparts
Assignment Restrictions
Successors and Assigns
Costs and Expenses
Confidentiality
Consideration
Representations and Warranties
Assumption of Obligations
Consent and Acknowledgment
Original Agreement Reference
Notice
Further Assurances
Governing Law
Indemnification
Severability
Entire Agreement
Amendment
Waiver
Counterparts
Assignment Restrictions
Successors and Assigns
Costs and Expenses
Confidentiality
Relevant Industries
Real Estate
Financial Services
Technology
Manufacturing
Energy
Relevant Teams
Legal
Finance
Business Development
Real Estate
Compliance
Relevant Roles
Chief Financial Officer
Corporate Counsel
Business Development Manager
Real Estate Manager
Investment Manager
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