Products tagged with 'assumption of obligations'

Prepare an assumption form to take over the trustee's obligations under a Declaration of Trust with this downloadable template for Alberta oil and gas assets.

• The Assumption is part of the documents required for an assignment of oil and gas interests.
• The assignee agrees to assume the assignor's obligations as trustee under a Declaration of Trust, under which the assignor held the working interests in certain oil and gas properties in trust.
• The file includes a Consent of Beneficiary form.
• This form is available as a fully editable template which can be easily customized to fit your needs.
• Intended to be used only in the Province of Alberta, Canada.

Use this Assumption of Obligations Agreement as part of a purchase of business assets when the buyer agrees to assume the liabilities.

Purpose of Agreement

An Assumption of Obligations Agreement is used as part of the documentation of the purchase of a business when the buyer has agreed to assume all or part of the obligations and liabilities of the business following the closing.

Mutual Indemnification

Each of the parties indemnifies the other party against claims or actions, with the seller indemnifying the buyer up until the time of closing, and the buyer indemnifying the seller from the time of closing onward.

Format and Jurisdiction

The Assumption of Obligations Agreement template is available in MS Word format. It is downloadable and fully editable, and can be easily customized to meet your specific needs.

This is not a country-specific legal template and it can be used almost anywhere.