Download Assignment Agreement Template for Free

The Assignment Agreement Template begins with the brief of the introduction this template which shows the main content of this template. There are two sections in this template, namely, Witnesseth and Form of Addendum. The first section has twelve terms which cover all the core issues of a general assignment agreement. And the second section is some basic information of the assignor and assignee. If you need this template, come to download it from our website without charge.

(4 based on 532 votes)
This Assignment Agreement, dated as of [ ] ("Assignment Agreement") is by and
among [ ] ("Assignor") and [ ] ("Assignee") and Moss Bluff Hub Partners,
L.P. (“Moss Bluff”). Unless otherwise defined herein, capitalized terms used herein shall have
the meanings assigned to such terms in the Gas Storage Contract.
WHEREAS, Assignor and Moss Bluff have entered into a Gas Storage Contract dated
_______________, Contract No.___ as the same may have from time to time been modified,
amended and supplemented (“Gas Storage Contract”) as described in the appropriate addendum
to this Assignment Agreement, in the form attached hereto (“Addendum”) and which has been
furnished by Assignor in its entirety to Assignee;
WHEREAS, Assignor desires on a temporary basis to assign and delegate to Assignee all
of its rights, duties and obligations in the Gas Storage Contract on a firm or recallable basis, and
on a full or partial basis as set forth in the relevant Addendum and Assignee desires to accept
such assignment and delegation and to assume such rights, duties and obligations, in accordance
with the terms hereof; and
WHEREAS, Assignor desires to obtain the consent of Moss Bluff to such assignment,
delegation and assumption and Moss Bluff desires to grant such consent in accordance with the
terms hereof and by means of the LINK® System.
NOW, THEREFORE, in consideration of the premises and of the mutual Assignment
Agreements herein contained, the parties hereto agree as follows:
1. Assignment and Assumption. (a) As and from the date (“Effective Date”) that Moss Bluff,
Assignor and Assignee finalize by means of the LINK® System the appropriate Addendum
(“Addendum”), Assignor will assign and delegate to Assignee for the period set forth in the
Addendum (“Assignment Period”), all of Assignor’s rights, duties and obligations under the
Gas Storage Contract and Assignee hereby accepts such assignment and delegation and
assumes such rights, duties and obligations; provided, however, that Assignor shall remain
ultimately liable to Moss Bluff for all payment obligations under the terms of the Gas Storage
Contract during the Assignment Period; (b) Assignments hereunder shall be for periods of
one or more days and the term shall not extend beyond the expiration of the Gas Storage
Contract; (c) The Addendum shall specify the quantities or rights offered, and actually
available on the Effective Date, and the exercise of which rights will not violate any
maximum or minimum quantity requirements or limitations applicable under the SOC (as
defined below).
2. Covenants of Assignee. Assignee agrees that, during the term of this Assignment
Agreement, and as long as the Gas Storage Contract is in effect, Assignee (i) shall pay to
Moss Bluff the Total Storage Reservation Fee as specified by Assignor and all other costs for
storage services utilizing the natural gas storage facilities that are the subject of this
Assignment Agreement; (ii) shall be responsible for any fuel retention or fuel costs as
specified by the Gas Storage Contract; (iii) shall not reassign any capacity granted to it
hereunder to any third party; (iv) shall comply with the applicable provisions of Moss Bluff’s
Assignment Agreement Template
 1 / 5 >