Equipment Lease Assignment

This Assignment of Equipment Lease is used when a party leasing equipment (the “assignor”) assigns the rights and responsibilities under that equipment lease to another (the “assignee”). There are many reasons why an equipment lease may be assigned including a change of circumstances or other financial concerns by the original lessee. The original Equipment Lease may contain a provision that the equipment owner must consent to any assignment; therefore, it is important that the master lease be consulted and the owner’s consent be obtained if required. This type of business transaction should always be clearly set forth in writing. A written Assignment of Equipment Lease will be valuable in the event of disagreements or misunderstandings between the parties. (continued ...)