A novation agreement is a contract between three parties, in which one party transfers its rights and obligations under a contract to another party. The third party agrees to assume the contractual obligations of the original party. The novation agreement includes provisions for the release of the original party from its obligations under the contract, and the assumption of the new party of those obligations.

Novation agreement

Genie AI Team

Assignment of contract

Contractual matters

Enforceability of contract

Existing claims

Future obligations

Incoming Party

Indemnify for losses

Indemnity

Release from claims

Transfer of rights

Contract Novation Deed

Novation agreement

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