Novation Agreement Form printable pdf download

Sample Contract Templates

NOVATION AGREEMENT

This Novation Agreement (“Agreement”) is entered into as of _________________, by and between

__________ (“Assignor”) and ______________ (“Assignee”)

RECTIALS

WHEREAS, Assignor, a law firm, entered into an agreement with its client for the purpose of providing

certain legal services such as representing its client in the court for all litigation cases, contract drafting

and advising the client on corporate legal affairs.

WHEREAS, Assignor is merged with Assignee by executing a merger agreement, such merger agreement

grants Assignee an irrevocable power of attorney to execute and deliver, among other things,

assignments and assurances in law to confirm possession of rights, properties or assets of the surviving

corporation;

WHEREAS, Assignee desires to continue to provide services and meet the assigned obligations of the

Assignor under the client agreement and its subsequent renewals;

NOW, THEREFORE, with the mutual intent to be legally bound, the parties agree that Assignee should be

substituted for Assignor, in the client agreement and its subsequent renewals;

1. The Assignor hereby agrees to transfer absolutely to the Assignee the client Agreement and Assignee

undertakes to be bound by and observe and perform the terms, conditions and covenants of the client

agreement on the part of the Assignor to be observed, performed and satisfied in every way as if the

Assignee were named a party to the client agreement in substitution for the Assignor. Assignee

undertakes to assume all liabilities and to satisfy all claims and demands whatsoever arising out of or in

respect of the client agreement.

2. Assignor and client hereby covenant, agree and undertake that by Assignee’s execution of this

Agreement, Assignee shall become a party to the client agreement in place of Assignor and shall be

entitled to all rights and privileges and shall be subject to all duties and obligations of Assignor under the

client Agreement from novation Effective Date.

3. Assignor shall have no rights, interests and obligations under the client Agreement, except those

subsisting prior to the execution of this Agreement. With effect from the date of this Agreement all

references to Assignor under the client Agreement shall be construed to as references to Assignee. After

the execution of this agreement, in future if there arises any liability on part of Assignor for the acts

performed under the client Agreement shall be the liability of Assignor.

4. This Agreement shall be read in conjunction with the client Agreement and any capitalized terms used

in this Agreement but not defined herein shall have the same meaning as assigned to such term in the

client Agreement.

Novation Agreement – Sample Template

Confidential

Novation Agreement Form