The asset purchase agreement template provides a solid road map for negotiating the complex world of commercial deals. Seller has delivered to the Buyer correct and complete copies of the Leases and each lease is legal, valid, binding, enforceable, and in full force and effect.Buying or selling company assets? Use this Asset Purchase Agreement to finalize the terms of the transaction. An Asset Purchase Agreement is a legally binding contract between a buyer and a seller that details the terms and conditions of the sale of a business's assets. "Assignment and Assumption Agreement" means an Assignment and Assumption. Agreement in the form of Exhibit B hereto. Form agreement for the purchase and sale of all or substantially all of the assets of a private Texas corporation, drafted in favor of the buyer.