CONTRACT ASSIGNMENT AGREEMENT
KNOW ALL MEN BY THESE PRESENTS:
This Contract Assignment Agreement (the "Agreement") is made and entered into this _______ day of _____________________, 20_____ at the City/Municipality of _____________________, Province of ________, by and between:
________, Filipino, of legal age, and with address at ________, hereinafter referred to as the "Assignor"
- and -
________, Filipino, of legal age, and with address at ________, hereinafter referred to as the "Assignee"
WITNESSETH:
WHEREAS, Assignor entered into a Contract dated ________ with ________, a copy of which is hereto attached and made an integral part hereof as Annex "A";
WHEREAS, Assignor wishes to assign all their rights and obligations under the Contract with ________ to Assignee;
WHEREAS, the necessary written consent was obtained from ________ on ________, a copy of which is hereto attached and made an integral part hereof as Annex "B";
NOW THEREFORE, for and in consideration of the foregoing premises, the parties hereto have agreed on the following terms and conditions:
I. ASSIGNMENT
Assignor hereby waives, assigns, and transfers all their rights, titles, and interests and delegate all of the obligations, duties, and responsibilities, in and to the Contract with ________ in favor of Assignee.
II. ASSUMPTION
Assignee hereby assumes all of Assignor's obligations, responsibilities, and duties and accepts all of Assignor's rights, titles, and interests under the Contract with ________.
III. INDEMNIFICATION
A. Assignor agrees to defend and indemnify Assignee from any and all claims, actions, judgments, liabilities, proceedings, and costs, including reasonable attorney's fees and other costs of defense and damages, arising out of or in connection to the acts, omissions, and negligence of Assignor in connection to or arising out of the Contract with ________ prior to the assignment of the Contract with ________.
B. Assignee agrees to defend and indemnify Assignor from any and all claims, actions, judgements, liabilities, proceedings, and costs, including reasonable attorney's fees, and other costs of defense and damages, resulting from Assignee's acts, omissions, and negligence of Assignee in connection to or arising out of the Contract with ________ after the assignment of the Contract with ________.
IV. 2885258855885
82 225828852822 22 2588 825222222 85588 82 85885 528288 82 8582822 525 525225 5222 82 588 52828522 2552828.
V. 555588852558
52 252 28222 2552 522 252888822 22 2588 825222222 88 5285 22 82 8285885, 8882258, 25 5222225825882 225 522 525822, 2522 252 2552828 52522 2552 8585 252888822 85588 82 522225 22 82 825582 525 252 522582525 22 252 825222222 85588 82 22225825 58 82 252 825582 252888822 8252 22825 82885525 82 252 825222222.
VI. BINDING EFFECT
This Agreement shall be valid and binding upon all of the Parties' successors, transferees, heirs, and assigns.
VII. GOVERNING LAW
This Agreement shall be governed and construed in accordance with the laws of the Republic of the Philippines.
IN WITNESS WHEREOF, the Parties have hereunto affixed their signature on the date and at the place stated above.
________
Assignor
________
Assignee
CONTRACT ASSIGNMENT AGREEMENT
KNOW ALL MEN BY THESE PRESENTS:
This Contract Assignment Agreement (the "Agreement") is made and entered into this _______ day of _____________________, 20_____ at the City/Municipality of _____________________, Province of ________, by and between:
________, Filipino, of legal age, and with address at ________, hereinafter referred to as the "Assignor"
- and -
________, Filipino, of legal age, and with address at ________, hereinafter referred to as the "Assignee"
WITNESSETH:
WHEREAS, Assignor entered into a Contract dated ________ with ________, a copy of which is hereto attached and made an integral part hereof as Annex "A";
WHEREAS, Assignor wishes to assign all their rights and obligations under the Contract with ________ to Assignee;
WHEREAS, the necessary written consent was obtained from ________ on ________, a copy of which is hereto attached and made an integral part hereof as Annex "B";
NOW THEREFORE, for and in consideration of the foregoing premises, the parties hereto have agreed on the following terms and conditions:
I. ASSIGNMENT
Assignor hereby waives, assigns, and transfers all their rights, titles, and interests and delegate all of the obligations, duties, and responsibilities, in and to the Contract with ________ in favor of Assignee.
II. ASSUMPTION
Assignee hereby assumes all of Assignor's obligations, responsibilities, and duties and accepts all of Assignor's rights, titles, and interests under the Contract with ________.
III. INDEMNIFICATION
A. Assignor agrees to defend and indemnify Assignee from any and all claims, actions, judgments, liabilities, proceedings, and costs, including reasonable attorney's fees and other costs of defense and damages, arising out of or in connection to the acts, omissions, and negligence of Assignor in connection to or arising out of the Contract with ________ prior to the assignment of the Contract with ________.
B. Assignee agrees to defend and indemnify Assignor from any and all claims, actions, judgements, liabilities, proceedings, and costs, including reasonable attorney's fees, and other costs of defense and damages, resulting from Assignee's acts, omissions, and negligence of Assignee in connection to or arising out of the Contract with ________ after the assignment of the Contract with ________.
IV. 2885258855885
82 225828852822 22 2588 825222222 85588 82 85885 528288 82 8582822 525 525225 5222 82 588 52828522 2552828.
V. 555588852558
52 252 28222 2552 522 252888822 22 2588 825222222 88 5285 22 82 8285885, 8882258, 25 5222225825882 225 522 525822, 2522 252 2552828 52522 2552 8585 252888822 85588 82 522225 22 82 825582 525 252 522582525 22 252 825222222 85588 82 22225825 58 82 252 825582 252888822 8252 22825 82885525 82 252 825222222.
VI. BINDING EFFECT
This Agreement shall be valid and binding upon all of the Parties' successors, transferees, heirs, and assigns.
VII. GOVERNING LAW
This Agreement shall be governed and construed in accordance with the laws of the Republic of the Philippines.
IN WITNESS WHEREOF, the Parties have hereunto affixed their signature on the date and at the place stated above.
________
Assignor
________
Assignee
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