What ownership and control requirements apply when transferring a Best Brains franchise to an entity?

declined to exercise it;

• 1. The assignee or transferee has sufficient business experience, aptitude, financial resources, meets our then applicable standards for franchisees, is of good moral character, will comply with our standard training requirements, has received the required disclosure documents in accordance with law, and executes the then current form of franchise agreement and other agreements;
• 1. Upon our request, the assignee or transferee agrees in a form approved by us to be personally bound jointly and severally by all the provisions of this Agreement and assume and guarantee all of Franchisee's obligations hereunder and all other agreements between Franchisee and the Company or its affiliates;
• 1. Upon our request, you enter into an agreement with us guaranteeing full payment and performance of the obligations of your transferee;
• 1. All of your monetary obligations owed to us and our affiliates are fully paid and you are not otherwise in default under this Agreement;
• 1. The assets of the Franchised Business are refurbished, remodeled or replaced in order to be in compliance with the then current standards and specification utilized in the granting of franchises;
• 1. The lessor has consented to the assignment of the lease for the Franchised Business premises to the assignee or transferee if the lease requires such a consent;
• 1. You pay us a transfer fee in an amount of $2,500 for the transfer of either a

Source: Item 23 — RECEIPTS (FDD pages 42–190)