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Debt Assignment Agreement Preview




 
THIS DEBT ASSIGNMENT AGREEMENT (the "Agreement") is entered into on this, ______________ _____, ________.
 
BY AND BETWEEN:

 
of: , , ,
 
("Creditor")

 
AND

 
of: , , ,
 
("Previous Debtor")

 
AND

 
of: , , ,
 
("Debtor")

 
DEBT ASSIGNMENT AGREEMENT

 
  1. ASSIGNMENT OF DEBT:

    The Previous Debtor hereby assign, transfer and deliver to the Debtor a debt in the amount of $. The Debtor promises to repay the outstanding debt to the Creditor as outlined in this agreement.


  2. MODIFICATION
     
    Any amendment or modification of this Agreement or additional obligation assumed by either party in connection with this Agreement will only be binding if evidenced in writing signed by both parties.
     
  3. BINDING EFFECT
     
    Except as otherwise provided in this Agreement, all of the covenants, conditions, and provisions of this Agreement shall apply to and bind the parties and the heirs, personal representatives, successors, and assigns of the parties.
     
  4. GOVERNING LAW
     
    This Agreement shall be governed and construed in accordance with the laws of the State of .

  5.  
  6. HEADINGS AND INTERPRETATION
     
    Headings are inserted for the convenience of the parties only and are not to be considered when interpreting this Agreement. In interpreting the language of this Agreement, the Landlord and Tenant will be treated as having drafted this Agreement after meaningful negotiations. The language in this Agreement will be construed as to its fair meaning and not strictly for or against either Party.

  7.  
The parties hereby indicate by their signatures below that they have read and agree with the terms and conditions of this Agreement in its entirety.
 

 
Dated: ______________ _____, ________.
 

 

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