Deed Of Assignment (Asset Sales)
It is required to assign the Books Debts (if applicable), Contracts, Goodwill, Intellectual Property and Seller’s rights against third parties.
Optional phrases / clauses are enclosed in square brackets. These should be read carefully and selected so as to be compatible with one another. Unused options should be removed from the document.
This Deed of Assignment (Asset Sales) is in open format. Either enter the requisite details in the highlighted fields or adjust the wording to suit your purposes.
If Book Debts are not being assigned, then the wording of clause 1.1 should be amended and clause 2.1 can be deleted. Throughout clause 2, the amount of consideration attributable to the Books Debts (if applicable), Contracts, Goodwill, Intellectual Property and Seller’s rights against third parties should be recorded in figures and words. The clause reference in clause 2.5 must refer to the correct clause, which will be different depending on which assets sale agreement is used. At clause 4, the optional wording in square brackets can be used if the Seller is to pay for any other matters required to give effect to the assignment.
The document is a deed and so it should be executed by two directors or one director and a secretary of the Seller and the Buyer respectively.
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