What standards must a prospective transferee meet to satisfy Aplus for a franchise transfer?

rtners, owners, employees, and agents (in their corporate and individual capacities), including, without limitation, claims arising under federal, state or local laws, rules or ordinances, and any other matters incident to the termination of this Agreement or to the transfer of Franchisee's interest herein or to the transfer of Franchisee's ownership of all or any part of

the Franchise; provided, however, that if a general release is prohibited, Franchisee shall give the maximum release allowed by law;

• 18.2.4. The prospective transferee has satisfied Franchisor in that it meets Franchisor's management, business and financial standards, and otherwise possesses the character and capabilities, including business reputation and credit rating, as Franchisor may require to demonstrate ability to conduct the Franchised Business, in addition to Franchisor's then-current requirements for franchisees;
• 18.2.5. The transferee and, if Franchisor requires, all persons owning any interest in the transferee, have executed the form of Franchise Agreement then being offered to new franchisees, which may be substantially different from this Agreement, and may include a different Royalty Fee, Marketing Fee rates and other material provisions; the initial term of the Franchise Agreement shall be the initial term provided for in the then-current franchise agreement, and all renewal terms shall be governed by the then-current franchise agreement, and the territory shall be the same as the territory granted pursuant to this Agreement;
• 18.2.6. The transferee has executed a general release, in a form prescribed by Franchisor, of any and all claims against Franchisor and its officers, directors, shareholders, managers, members, partners, owners, employees, and agents (in their corporate and individual capacities), with respect to any representations regarding the Franchise or the business conducted pursuant thereto or any other matter that may have been made to the transferee by Franchisee;
• 18.2.7. Franchisee has provided Franchisor with a complete copy of all contracts and agreements and related documentation between Franchisee and the prospective transferee relating to the intended sale or transfer of the Franchise;
• 18.2.8. Franchisee, or the transferee, has paid to Franchisor a transfer fee ("Transfer Fee") in the amount stated in Attachment 1;
• 18.2.9. The transferee has obtained all necessary consents and approvals by third parties and all applicable federal, state and local laws, rules, ordinances and requirements applicable to the transfer have been complied with or satisfied;
• 18.2.10. Franchisee has, and if Franchisee is an entity, all of the holders of a legal and beneficial interest in Franchisee have executed and delivered to Franchisor a nondisclosure agreement in a form satisfactory to Franchisor and in substance the same as the nondisclosure covenants contained in Sections 7 and 17;
• 18.2.11.

Source: Item 23 — RECEIPT (FDD pages 68–302)