A Partial Novation Agreement is utilized when there is a need to transfer some, but not all, rights and obligations from an existing contract to a new party under English and Welsh law. This document is commonly used in corporate restructuring, asset sales, or when businesses need to redistribute contractual responsibilities. The agreement carefully delineates which obligations are being transferred and which remain with the original party, ensuring clarity for all parties involved. It must comply with English contract law requirements and typically requires consent from all parties affected by the novation.
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
Your data doesn't train Genie's AI
You keep IP ownership of your docs
1. Parties: Identification of all parties involved in the novation (existing, incoming and remaining parties)
2. Background: Context of the original agreement and reason for partial novation, including reference to original contract
3. Definitions: Key terms used throughout the agreement, including 'Effective Date', 'Original Agreement', 'Novated Rights', 'Retained Rights'
4. Novation Provisions: Specific rights and obligations being novated and mechanics of the novation
5. Effective Date: When the novation takes effect and any conditions precedent
6. Continuing Obligations: Original obligations that remain in force between the continuing parties
7. Governing Law: Specification of English and Welsh law as governing law and jurisdiction
1. Security Provisions: Required if existing security arrangements need to be addressed or new security is being provided
2. Warranties: Additional warranties and representations from the incoming party
3. Costs: Allocation of costs and expenses related to the novation process
4. Third Party Rights: Provisions excluding or limiting rights under the Contracts (Rights of Third Parties) Act 1999
1. Schedule 1 - Original Agreement: Copy of the agreement being partially novated
2. Schedule 2 - Novated Rights and Obligations: Detailed list of specific rights and obligations being transferred to the incoming party
3. Schedule 3 - Retained Rights and Obligations: Detailed list of rights and obligations remaining with the original party
4. Schedule 4 - Required Consents: List of third party consents and regulatory approvals required for the novation
Find the exact document you need
Partial Novation Agreement
An England & Wales legal document transferring select contract rights and obligations to a new party.
Download
Novation Of Promissory Note
An England & Wales document transferring promissory note rights and obligations to a new party.
Download
Novation Of Lease Agreement
An England & Wales legal document transferring lease obligations to a new tenant, releasing the original tenant.
Download
Novation Employment Contract
An England & Wales legal document transferring employment rights and obligations between employers with consent.
Download
Novation And Amendment Agreement
An England & Wales agreement transferring and amending contractual obligations during corporate restructuring or business acquisitions.
Download
Assignment And Novation Agreement
A legal document under English and Welsh law that enables the transfer of contractual rights and obligations between parties, either through assignment or novation.
Download
ұԾ’s Security Promise
Genie is the safest place to draft. Here’s how we prioritise your privacy and security.
Your documents are private:
We do not train on your data; ұԾ’s AI improves independently
All data stored on Genie is private to your organisation
Your documents are protected:
Your documents are protected by ultra-secure 256-bit encryption
We are ISO27001 certified, so your data is secure
Organizational security:
You retain IP ownership of your documents and their information
You have full control over your data and who gets to see it
.png)