What standards must a transferee/assignee meet to be approved for an Angry Chickz franchise assignment?

terest of Owner, and a list of all officers and directors, in such form as Company may require;

• (e) that Franchisee shall have complied with Section 13.3 and Company shall not have exercised the ROFR;

• (f) that Franchisee shall not be in default under the terms of this Agreement (or any other related agreement), all agreements with Company's Affiliates, the Manual(s) or any other obligations owed Company;

• (g) that all obligations to third parties in connection with the Franchised Business shall have been satisfied or assumed by the transferee;

• (h) that Franchisee, and its Owners, if Franchisee is an Entity, shall execute a general release, in a form prescribed by Company, of any and all known and unknown claims against Company and its Affiliates and their Owners, officers, directors, agents, and employees;

• (i) that the transferee/assignee shall have demonstrated to Company's satisfaction that it meets all of Company's then-current Standards for new Restaurant operators or for holders of an interest in a franchise or license, including satisfactory credit ratings, acceptable business qualifications, the ability to obtain or acquire the license(s) and permit(s) necessary for the operation of the Restaurant, and the ability to fully comply with the terms of this Agreement;

• (j) that the transferee/assignee shall have agreed, under a written assumption agreement approved by Company, that at closing, the transferee/assignee shall, at Company's option, either (a) assume this Agreement; provided however, that such assumption shall not relieve Franchisee (as transferor/assignor) of any continuing obligations; or (b) execute a replacement franchise or license agreement on the then-current form of franchise agreement used by Company in the State in which the Franchised Business is being operated, provided, however, that the term of the replacement franchise or license agreement shall be, at Company's option, the remaining term of this Agreement, unless Company otherwise agrees; and, at Company's request, the transferor/assignor shall have executed a continuing guaranty in favor of Company of the performance and payment by the transferee/assignee of all obligations and debts to Company and its Affiliates under the replacement franchise or license agreement;

• (k) that the transferee/assignee agrees to refurbish the Franchised Business as needed (in Company's discretion) to match the then-current Standards;

• (l) that there shall not be any suit, action, or proceeding pending, or to the knowledge of Franchisee any suit, action, or proceeding threatened, against Franchisee with respect to the Franchised Business;

• (m) that Franchisee shall have paid to Company a nonrefundable administrative/transfer fee equal to 25% of Company's then-current initial franchise fee, but not less than $12,500, plus Company's then current training fees (but not less than $5,000) and reimbursement of Company's costs associated with the transfer/assignment, including attorneys'' fees;;

• (n) that Franchisee and its Owners agree with the assignee/transferee not to co

Source: Item 22 — CONTRACTS (FDD page 54)