What is the definition of 'Assignor' in the context of the assignment agreement for an Aw franchise?
Aw Franchise · 2025 FDDAnswer from 2025 FDD Document
| KNOW ALL MEN BY THESE PRESENTS, that, a ("Assignor"), does hereby assign, transfer and set over unto |
|---|
| Rayyan Pizza Franchise LLC, an Illinois limited liability company (the "Assignee"), all of Assignor's |
| right, title and interest as tenant in, to and under that certain lease or sublease (collectively, the |
| "Lease") dated, 20 between Assignor, as tenant, and |
| as landlord or sublessor, |
| for the premises known as |
| This Assignment is for collateral purposes only, and except as specified herein, Assignee shall |
| have no liability or obligation of any kind whatsoever arising from or in connection with this |
| Assignment or the lease unless Assignee shall elect to assume the rights and obligations of Assignor |
| under the Lease. Assignee shall make such election by mailing written notice of such election to |
| Lessor and Assignor by United States Certified Mail, duly addressed and posted or by reputable |
| overnight commercial delivery service. |
| Assignor represents and warrants to Assignee that it has full power and authority to assign the |
| Lease and its interests therein and that Assignor has not previously and is not obligated to, assign or |
| transfer any of its interests in the Lease or the premises demised thereby. |
| This Assignment is given to Assignee to secure the faithful performance by Assignor of the |
| terms and conditions of the Franchise Agreement dated the day of, |
| 20, between Assignor and Assignee (the "Franchise Agreement"). Upon a default by Assignor |
| under the Lease, a default by Assignor under the Franchise Agreement, or the expiration or |
| termination of the Franchise Agreement, Assignee shall have the right and is hereby empowered, |
| upon ten (10) days' notice to the Assignor, to assume the above-referenced Lease and take possession |
| of the premises. |
Source: Item 22 — CONTRACTS (FDD pages 39–40)
What This Means (2025 FDD)
According to Aw's 2025 Franchise Disclosure Document, in the context of the assignment agreement, the 'Assignor' is defined as the franchisee. This means that the franchisee is the party who is assigning or transferring their rights, title, and interest in a lease or sublease to Rayyan Pizza Franchise LLC, which is identified as the 'Assignee'.
This assignment is specifically for collateral purposes, meaning it serves as security for the franchisee's obligations under the Franchise Agreement. The franchisee, as the Assignor, represents and warrants that they have the full power and authority to assign the lease and that they have not previously assigned or transferred any of their interests in the lease. This representation is crucial because it ensures that Aw, as the Assignee, is receiving a valid and unencumbered right to the lease.
The agreement outlines that if the franchisee defaults under the lease or the Franchise Agreement, or upon the expiration or termination of the Franchise Agreement, Aw has the right to assume the lease and take possession of the premises after providing ten days' notice to the franchisee. This provision protects Aw's interest in maintaining control over the location of the Papa Ray's Pizza Restaurant, even if the franchisee fails to meet their obligations.