What conditions does the SUBFRANCHISOR impose for consenting to the assignment of the Anago Franchise Agreement to the ASSIGNEE?
Anago Franchise · 2025 FDDAnswer from 2025 FDD Document
e fromstockholder | 130,000 | | (130,000) | | - | | Increase(decrease) in deferred | franchise fees | (28,309) | | 34,893 | (18,332) | | Principal payments ofnotes payable | | | - | (29,137) | (65,293) | | Net cash provided by(used | in)financingactivities | 101,691 | | (124,244) | (83,625) | | Net increasein cash andequivalents | 538,685 | | 905,273 | 3,148 | | | Cash andequivalents at beginningofyear | 2,013,241 | | 1,107,968 | 1,104,820 | | | Cash and equivalents at end | ofyear | $ 2,551,926 | | $2,013,241 | $ 1,107,968 |
AGREEMENT
of the Subfranchise Agreement.
Agreement to ASSIGNEE, subject to the terms and conditions of this Assignment, including, without limitation, ASSIGNOR's agreement to guarantee the performance by ASSIGNEE of its obligations under the Subfranchise Agreement and to continue to be bound by all the provisions
D. FRANCHISOR is willing to consent to the assignment of the Subfranchise
In consideration of the mutual covenants contained in this Assignment, and for other good and valuable consideration, the receipt and sufficiency of which is acknowledged, and intending to be legally bound, the parties agree as follows:
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- ASSIGNOR hereby assigns and transfers over to ASSIGNEE all of ASSIGNOR's rights, title and interest in and to the Subfranchise Agreement, effective as of the date of this Assignment.
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- ASSIGNEE hereby assumes all of ASSIGNOR's obligations, assignments, commitments, duties, covenants and liabilities under the Subfranchise Agreement, and agrees to be bound by and observe and faithfully perform all of the obligations, assignments, commitments and duties of the Subfranchisor under the Subfranchise Agreement with the same force and effect as if the Subfranchise Agreement were originally written with ASSIGNEE as subfranchisor.
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- ASSIGNOR agrees that ASSIGNOR shall continue to be bound by all of the terms, covenants, conditions and obligations of Subfranchisor under the Subfranchise Agreement, including, without limitation, all non-competition, confidentiality and indemnification obligations, and that nothing contained in this Assignment herein shall be deemed to relieve ASSIGNOR of any of ASSIGNOR's obligations in the Subfranchise Agreement. ASSIGNOR further agrees to execute FRANCHISOR's form of personal guaranty, simultaneously with the execution of this Assignment.
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Source: Item 23 — RECEIPTS (FDD pages 62–298)
What This Means (2025 FDD)
According to Anago's 2025 Franchise Disclosure Document, the subfranchisor's consent to the assignment of the Franchise Agreement to the assignee is subject to specific terms and conditions. The assignor must guarantee the performance by the assignee of its obligations under the Franchise Agreement. Additionally, the assignor must continue to be bound by all the provisions of the Franchise Agreement.
In the agreement, the assignor transfers all rights, title, and interest in the Subfranchise Agreement to the assignee, effective from the date of the assignment. The assignee, in turn, assumes all of the assignor's obligations, assignments, commitments, duties, covenants, and liabilities under the Subfranchise Agreement. The assignee agrees to be bound by and faithfully perform all obligations as if they were the original subfranchisor.
Furthermore, the assignor remains bound by all terms, covenants, conditions, and obligations of the Subfranchisor under the Subfranchise Agreement. This includes all non-competition, confidentiality, and indemnification obligations. The assignor is not relieved of any obligations and must also execute Anago's form of personal guaranty simultaneously with the assignment. This assignment is governed by the laws of Florida, where it is entered into, and all parties acknowledge they are bound by the dispute resolution provisions in the Subfranchise Agreement.