According to the Belocal Transfer Agreement, what does the Transferee desire to assume?

According to Belocal's 2025 Franchise Disclosure Document, the Transferee in a transfer agreement desires to assume the duties and obligations of the Transferor under a New Franchise Agreement. This assumption is subject to the terms, conditions, and covenants outlined in the transfer agreement.

In simpler terms, when a Belocal franchisee (the Transferor) wants to sell their franchise to someone else (the Transferee), the Transferee agrees to take over the original franchisee's responsibilities. This includes adhering to the terms of a new franchise agreement, which may have different conditions than the original agreement.

This clause ensures that Belocal maintains control over who operates its franchises and that the new franchisee is bound by a current agreement. Prospective transferees should carefully review the new franchise agreement to understand their obligations, as the terms may differ from the original agreement and could include higher fees.