What document is being assigned and consented to in this context for Beehive Homes?
Beehive_Homes Franchise · 2025 FDDAnswer from 2025 FDD Document
| This Assignment and Consent to Assignment of Franchise to a | ||
|---|---|---|
| [Corporation/Partnership/Limited Liability Company], dated, 2025 | ||
| ("Assignment"), is by and among | "Assignor"); [Corporation/Partnership/LLC Name], a [corporation/partnership/limited liability company] ("Assignee"); and those | BEE HIVE HOMES, INC., a Utah corporation ("Bee Hive Homes"); and (collectively, the |
| [shareholders/partners/members] | of Assignee (individually ["Shareholder"/"Partner"/"Member"] and collectively ["Shareholders"/"Partners"/"Members"]) listed on Exhibit A attached hereto and | |
| incorporated herein by reference. | Recitals | |
| (the "Franchise"). | A. Bee Hive Homes or its predecessor in interest issued to Assignor or its predecessor(s) in interest a Franchise Agreement dated (the "Franchise Agreement"), for the Bee Hive Homes Franchise located at | |
| Assignee. | B. Assignor requests Bee Hive Homes' consent to transfer the rights in the Franchise to | |
| Homes' consent to this Assignment is required under the terms of the Franchise Agreement. Agreement | C. Assignor, Assignee, and [Shareholders/Partners/Members] acknowledge that Bee Hive | |
| as follows: | The parties, intending to be legally bound and for good and valuable consideration, agree 1. The effective date of this Assignment is ("Effective Date"). | |
| Agreement and this Assignment. | 2. Bee Hive Homes consents to this Assignment subject to the provisions of the Franchise | |
| Assignor in the Franchise to Assignee, subject to the provisions of the Franchise Agreement. | 3. On the Effective Date, Assignor assigns and transfers all the right, title, and interest of |
Source: Item 23 — RECEIPTS (FDD pages 34–123)
What This Means (2025 FDD)
According to Beehive Homes' 2025 Franchise Disclosure Document, the document being assigned and consented to is the 'Assignment and Consent to Assignment of Franchise' to a corporation, partnership, or limited liability company. This assignment involves the transfer of the franchise rights from the assignor to the assignee, with Beehive Homes' consent, under the terms of the Franchise Agreement. The document outlines the agreement between Beehive Homes, the assignor (current franchisee), the assignee (new entity), and the shareholders, partners, or members of the assignee entity.
This assignment is conditional and subject to Beehive Homes' approval, particularly regarding further transfers or pledges of the franchise or equity interests in the assignee. The document also clarifies that Beehive Homes has not reviewed the assignee's organizational documents or any shareholder's, partner's, or member's trust documents, and therefore, the assignment does not constitute an endorsement of those documents. If conflicts arise between these documents and the assignment or Beehive Homes' policies, the provisions of the assignment will prevail.
Several clauses address specific entity types (corporation, partnership, LLC) and detail restrictions on equity transfers, amendments to organizational documents, and the issuance of additional equity interests without Beehive Homes' prior written consent. These restrictions ensure that Beehive Homes maintains control over who operates its franchises and that the brand's standards are upheld. The assignor remains bound by the original Franchise Agreement, emphasizing that the assignment does not release them from their obligations to Beehive Homes.
For a prospective franchisee, this means that if they plan to transfer their franchise to a corporation, partnership, or LLC, they must adhere to the conditions outlined in this assignment document. This includes obtaining Beehive Homes' consent for the transfer and ensuring that all parties involved understand their obligations and restrictions. The franchisee should carefully review the assignment document and any related organizational or trust documents to avoid conflicts with Beehive Homes' policies.