Assumption (deed to assume rights/obligations)-COMM 51

This document to be utilised when you wish to replace one party with another in an ongoing situation. Similar to an assignment.

Sample

"A. The Vendor and the Purchaser are parties to an Agreement made the ## ("the Principal Agreement") for the sale of shares from the Vendor to the Purchaser.

B. The parties desire to amend the Principal Agreement.

1. INTERPRETATION

1.1 This Agreement is supplemental to the Principal Agreement.

1.2 Words and expressions defined or given special meaning in the Principal Agreement must, unless the context otherwise requires, have the same meaning when used in this Agreement.

1.3 Headings in this Agreement are for convenience only and must not effect its interpretation."