How To Use
This is a simple consent form that favors the people seeking the consent since it lets the old obligor off the hook, so to speak.
The signatory consenting may want to modify this to consent to the agreement but keep the original assignor on the hook for the obligations of the contract.
This can be written into the contract by stating that “Notwithstanding the assent to assignment, the original Obligor, referred to herein as the Assignor, remains fully responsible under the Agreement just as if this Assignment never took place”, or some such language.
This review list is provided to inform you about this document in question and assist you in its preparation.
- Make multiple copies. Give one to each signatory. Keep one with the transaction file.
- If you are seeking the consent, this is a simple form to send out with a cover letter (or not, as you choose) relating to the request for approval of the assignment.