Common use of Deed of Covenant Clause in Contracts

Deed of Covenant. The assignee must enter into a deed of covenant with the party whose consent is sought, acknowledging that party’s rights under this Agreement and undertaking by way of novation to observe and perform all the assignor’s obligations under this Agreement. Such deed of covenant shall be prepared by the party whose consent is sought in such reasonable form as that party requires, but at the expense of the assignor. The deed shall be stamped by and at the expense of the assignor.

Deed of Covenant. The assignee must enter into a deed of covenant with the party whose consent is sought, acknowledging that party’s party‟s rights under this Agreement and undertaking by way of novation to observe and perform all the assignor’s assignor‟s obligations under this Agreement. Such deed of covenant shall be prepared by the party whose consent is sought in such reasonable form as that party requires, but at the expense of the assignor. The deed shall be stamped by and at the expense of the assignor.