Primary Assignment Agreement
(Equipment Financing)

Summary

This template is a primary assignment agreement for parties who sell and buy multiple equipment leases regularly and continuously. This template includes practical guidance, drafting notes, and optional clauses. An assignment agreement is the most common method to transfer the obligations of an obligor from one party to another. Simply put, one finance party may sell the entire lease to another finance party. Syndications and participations are other methods to sell or assign part of all of the finance party's interest in equipment leases. A primary or "master" assignment agreement is created when equipment leases are sold regularly, continuously and on a bilateral basis. In this assignment agreement template, the assignor will still bill and collect payments. Terms of an assignment agreement may vary. Terms are often reflections of the relationship between the parties and which party has more bargaining power. Therefore, the agreements are often very different among different parties and less standardized. Revise this template to suit your specific transaction, parties, and defined terms of the underlying equipment lease agreements. For a template of a primary or "master" equipment lease agreement, see Primary Lease Agreement and Schedule (Equipment Lease). For additional equipment leasing content, see Equipment Leasing Resource Kit. For asset-based lending content, see Asset-Based Lending Resource Kit.