Who is liable to Anago's Assignee for rent and other Lease obligations paid by the Assignee?
Anago Franchise · 2025 FDDAnswer from 2025 FDD Document
So long as Assignee shall not have exercised its option to take possession of the Premises under the foregoing provisions, Assignee shall not be liable for rent or any other obligation under the Lease, and Assignor shall remain liable for all such rent and obligations.
Assignor shall be liable to Assignee for all payments by Assignee for rent and other Lease obligations.
The parties acknowledge that such payments are reasonable expenses of foreclosure.
Source: Item 23 — RECEIPTS (FDD pages 62–298)
What This Means (2025 FDD)
According to Anago's 2025 Franchise Disclosure Document, the Assignor is liable to Anago's Assignee for rent and other lease obligations paid by the Assignee. This liability remains in effect as long as the Assignee has not exercised its option to take possession of the premises.
In simpler terms, if Anago, as the Assignee, makes payments for rent or other lease-related costs, the original party (Assignor) is responsible for reimbursing Anago for those payments. This financial responsibility stays with the Assignor until Anago decides to take over the physical premises.
This arrangement acknowledges that such payments made by Anago are considered reasonable expenses, potentially related to foreclosure or similar situations. This clause protects Anago's financial interests while also outlining the responsibilities of the original leaseholder during the transition period before Anago might fully assume control of the property.