What is the definition of 'transfer' in the context of the Bananas Smoothies Frozen Yogurt agreement?
Bananas_Smoothies_Frozen_Yogurt Franchise · 2025 FDDAnswer from 2025 FDD Document
11. TRANSFERS.
- 11.1 By Franchisor. This Agreement is fully transferable by Franchisor and inures to the benefit of any assignee or other legal successor to Franchisor's interest, as long as such assignee or successor agrees to be bound by, and assumes all of Franchisor's continuing obligations under it.
- 11.2 By Developer. Developer understands and acknowledges that the rights and duties created by this Agreement are personal to you (or, if you are a corporation, limited liability company or partnership, your Owners) and that Franchisor has granted this Agreement in reliance upon Franchisor's perceptions of the individual or collective character, skill, aptitude, attitude, business ability and financial capacity of Developer (or, if you are a Business Entity, Developer's Owners). Therefore, neither this Agreement (or any interest therein) nor any part or all of the ownership of Developer may be transferred by Developer or Developer's Owners without our prior written approval. Any such transfer without Franchisor's prior wr
Source: Item 23 — RECEIPT (FDD pages 58–231)
What This Means (2025 FDD)
According to the 2025 Bananas Smoothies Frozen Yogurt Franchise Disclosure Document, the franchise agreement is transferable by the franchisor, Everything Yogurt Brands, LLC. This means Everything Yogurt Brands, LLC can assign the agreement to another party, provided that the assignee agrees to uphold all of Everything Yogurt Brands, LLC's obligations outlined in the agreement. This transfer benefits any assignee or legal successor to Everything Yogurt Brands, LLC's interest.
However, the agreement specifies that the rights and duties within the agreement are personal to the developer (franchisee) and/or their owners. Bananas Smoothies Frozen Yogurt has granted the agreement based on their assessment of the individual or collective character, skills, aptitude, attitude, business ability, and financial capacity of the developer or their owners.
Therefore, the developer cannot transfer the agreement, any interest in it, or any part or all of the ownership of the developer without prior written approval from Bananas Smoothies Frozen Yogurt. Any transfer attempted without this prior written consent is prohibited. This protects Bananas Smoothies Frozen Yogurt by ensuring that any new operator meets their standards and preserves the brand's integrity.