Alberta Assignment and Novation Agreement
Transfer an interest in Alberta oil and gas assets from one operator to another with this Assignment and Novation Agreement form.
- Assignment of Rights. The original operator (the assignor) assigns all of its rights and interest in the properties to another operator (the assignee).
- Novation. The assignor novates the new operator as a party to the original agreement under which the assignor acquired its interest.
- Consent and Waiver. All other stakeholders who were parties to the original agreement consent to the transfer and waive their pre-emptive rights.
- Release of Assignor. The other stakeholders also release the assignor from performance of the original agreement after the effective date of the assignment.
- Jurisdiction. This legal document is intended for use in the Province of Alberta, Canada.
- How to Obtain the Form. You can download the MS Word form immediately after purchase. Other formats available on request.
Last Updated: 26-January-2021