Baker & McKenzie Comments on Assignment and Novation Agreements in Australia
This edition of the Baker & McKenzie's Hotels, Resorts and Tourism Newsletter focuses on novation of rights and obligations under a hotel management agreement.
The article discusses the concepts of novation ab initio and de futuro and highlights some of the complexities involved in drafting novation agreements, including with respect to operator key money, termination provisions, furniture, fixture and equipment reserve, guaranteed return and right of refusal.
You can read the April edition of the Hotels, Resorts & Tourism April 2011 Newsletter here.
About Baker & McKenzie
Founded in 1949, Baker & McKenzie provides sophisticated advice and legal services to many of the world’s most dynamic and successful organizations through more than 3,800 locally qualified lawyers and more than 5,700 professional staff in 68 offices and 40 countries. Baker & McKenzie is known for having a deep understanding of the language and culture of business, an uncompromising commitment to excellence, and world-class fluency in the way we think, work and behave. (www.bakermckenzie.com)
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