Under what conditions can a Bambu franchisee transfer their franchise agreement?

Franchisee by will, declaration of or transfer in trust or under the laws of intestate succession.

• 17.2 Pre-Conditions to Franchisee's Transfer. Franchisee shall not transfer its rights under this Agreement or any interest in it, or any part or portion of any business entity that owns it or all or a substantial portion of the assets of the Bambū shoppe, unless: (1) the shoppe has already opened for business and has been operating for at least 30 days; and (2) Franchisee obtains Bambu's written consent and complies with all of the following requirements:
• a. Payment of all amounts due and owing pursuant to this Agreement by Franchisee to Bambu or its affiliates or to third parties holding a security interest in any asset of the franchised business and Franchisee is otherwise in full compliance with this Agreement.
• b. Agreement by the proposed transferee to satisfactorily complete the Training Program described in this Agreement, which training may be completed by the transferee either prior to or immediately after assignment of this Agreement.
• c. Execution of a Franchise Agreement (for the same type of franchise as granted by this Agreement or an equivalent type then offered as determined by Bambu) and any ancillary documents, such as the Guaranty and Assumption of Franchisee's Obligations and Nondisclosure and Noncompetition Agreement, in a form then currently offered and required by Bambu, which shall supersede this Agreement in all respects. If a new Franchise Agreement is signed, the terms thereof may differ substantially from the terms of this Agreement; provided, however, the transferee will not be required to pay any additional initial franchise fee.
• d. Provision by Franchisee of written notice to Bambu 30 days prior to the proposed effective date of the transfer, such notice to contain information reasonably detailed to enable Bambu to evaluate the terms and conditions of the proposed transfer, an which at a minimum includes a written offer from the proposed transferee.
• e. The proposed transferee shall have provided information to Bambu sufficient for Bambu to assess the proposed transferee's business experience, aptitude and financial qualification, and Bambu shall have ascertained that the proposed transferee meets such qualifications.

• f. Execution by Franchisee of a general release, in a form satisfactory to Bambu, of any and all claims against Bambu, its affiliates and their respective officers, directors, members, managers, employees and agents.
• g. Payment by Franchisee or the proposed transferee of a transfer fee ("Transfer Fee") in the amount set forth in Attachment I. The Transfer Fee covers the training for up to three representatives of transferee. Bambu reserves the right to charge Franchisee its then current rate for training any additional representatives of transferee. The Transfer Fee is payable when Franchisee presents the written offer from the proposed transferee to Bambu.
• h. Agreement by Franchisee to abide by the post-termination covenant not to compete set forth in Section 21.2 below.
• i. If so requested by Bambu, Franchisee, at its expense, shall upgrade the shoppe to conform to the then current standards and specifications of new shoppes then-being established pursuant to the Bambū system, and shall complete upgrading and other requirements within the time specified by Bambu.
• j.

Source: Item 23 — Receipts (FDD pages 52–209)