Under what condition is an Aplus franchisee required to first offer the rights to the premises to Sunoco before transferring or assigning the lease?
Aplus Franchise · 2024 FDDAnswer from 2024 FDD Document
(C) If the APlus Franchise Agreement between you and Sunoco is terminated or not in effect for any reason, but this Lease is still in effect, you may not transfer or assign this Lease without first offering to transfer or assign one hundred percent (100%) of the rights in the Premises to Sunoco, in writing signed by you, at a stated price and stated terms.
(D) Sunoco may accept in writing at any time within sixty (60) days (excluding federal and state holidays) from receipt of the written offer by agreeing to purchase one hundred percent (100%) of the rights in the Premises and to pay the stated price on the stated terms, less the amount of the transfer fee that is payable to Sunoco in the event of an assignment.
The offer must be received in the appropriate Division Office.
Source: Item 23 — RECEIPT (FDD pages 68–302)
What This Means (2024 FDD)
According to Aplus's 2024 Franchise Disclosure Document, a franchisee is required to first offer the rights to the premises to Sunoco before transferring or assigning the lease if the Aplus Franchise Agreement is terminated or not in effect for any reason, but the lease is still in effect.
Specifically, the franchisee must offer to transfer or assign one hundred percent (100%) of the rights in the Premises to Sunoco, in writing and signed by the franchisee, at a stated price and stated terms. This gives Sunoco the first option to take over the premises if the franchise agreement is no longer active but the lease remains valid.
Sunoco has sixty (60) days (excluding federal and state holidays) from receipt of the written offer to accept by agreeing to purchase one hundred percent (100%) of the rights in the Premises and to pay the stated price on the stated terms, less the amount of the transfer fee that is payable to Sunoco in the event of an assignment. The offer must be received in the appropriate Division Office.