What does the Exhibit 4 Collateral Assignment of Telephone Number authorize Aw to do?
Aw Franchise · 2025 FDDAnswer from 2025 FDD Document
ee may further assign the Lease to a person, firm or corporation who has been granted a franchise by Assignee and who agrees to assume the lessee's obligations assignment Assignee | | Dated: | | | | | CORPORATE SIGNATURE: | | | | ATTEST: | | | | a | | corporation | | | By: | | | | By: | | | | | | | | | | | | |
EXHIBIT 4 TO THE FRANCHISE AGREEMENT
CONDITIONAL ASSIGNMENT OF TELEPHONE NUMBERS AND SOCIAL MEDIA ACCOUNTS
| Franchisee (Assignor):, whose business address is, in consideration of the granting of a franchise to Assignor contemporaneously herewith, and other valuable consideration paid by Rayyan Pizza Franchise, LLC, an Illinois limited liability company (Franchisor/Assignee), hereby assigns unto the Assignee (i) all telephone numbers and listings utilized by Assignor in the operation of Assignor's PAPA RAY'S PIZZA restaurant at Assignor's address above-referenced and (ii) all accounts with social media platforms or networks, including passwords and log-in information. WINGS" and the associated marks are solely the property of Franchisor/Assignee. Assignor's right to use any telephone numbers and directory listings and social media accounts associated with "PAPA RAY'S PIZZA & WINGS" trademarks and service marks was solely due to a limited license granted by Assignee/Franchisor in connection with the Assignee/Franchisor's trademark(s)/service mark(s) pursuant to a Franchise Agreement. Once said license has expired and/or terminated pursuant to the expiration or termination of the Franchise Agreement, Assignor has no right to the telephone number or directory listing or social media accounts associated with the Assignee/Franchisor's trademark, including, but not limited to PAPA RAY'S PIZZA & WINGS. | Assignor acknowledges that "PAPA RAY'S PIZZA & As such, |
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| This Assignment shall constitute authorization to the appropriate telephone company to change | |
| and transfer to Franchisor/Assignee all of Assignor's rights in and to the use of said business | |
| telephone lines to the appropriate social media companies to change and transfer to | |
| Franchisor/Assignee all of Assignor's rights in and to the use of said social media account, and | |
| Assignor hereby irrevocably appoints and authorizes Franchisor/Assignee to act as Assignor's | |
| attorney-in-fact and hereby empowers Franchisor/Assignee to execute such instruments in the | |
| Assignee's name in order to give full effect to this Assignment and to effectuate any transfer. | |
| Upon the Assignment, the Assignee hereby assumes the performance of all of the terms, covenants | if Assignee had originally been issued such social media accounts. |
Source: Item 22 — CONTRACTS (FDD pages 39–40)
What This Means (2025 FDD)
According to Aw's 2025 Franchise Disclosure Document, Exhibit 4, the Collateral Assignment of Telephone Number and Social Media Accounts, grants Aw the right to all telephone numbers and listings used by the franchisee in operating their Papa Ray's Pizza restaurant, as well as all social media accounts, including passwords and login information. This assignment is made in consideration of Aw granting the franchise. The franchisee's right to use these telephone numbers, directory listings, and social media accounts is solely due to the limited license granted by Aw in connection with its trademarks and service marks under the Franchise Agreement. Upon expiration or termination of the Franchise Agreement, the franchisee loses all rights to these assets associated with Aw's trademarks.
Specifically, this assignment authorizes the telephone company and social media companies to transfer all of the franchisee's rights in the business telephone lines and social media accounts to Aw. The franchisee irrevocably appoints Aw as their attorney-in-fact, empowering Aw to execute any necessary instruments to effectuate this transfer.
Upon this assignment, Aw assumes all terms, covenants, and conditions of the telephone company and social media companies related to the telephone numbers, listings, and social media accounts, as if Aw had originally been issued these accounts. This ensures a seamless transition and continued operation of the Papa Ray's Pizza & Wings business under Aw's control, even after a franchise agreement ends.