When does Christian Brothers Automotive collect the remainder of the upfront franchise fee after the first installment?

orporation

Agreement. The execution of the New Agreements shall, except for the post-term

obligations of Franchisee hereunder, be deemed to terminate this Agreement and

the Commercial Sub-Lease Agreement.

(d) In the event of an assignment of this Agreement, the sale of the Franchised Business

or an assignment of any Interest in Franchisee that results in a change of control of

Franchisee, Franchisee shall pay the Franchisor a transfer fee (the "Transfer Fee")

equal to Thirty Thousand and No/100 Dollars ($30,000.00). Franchisee

acknowledges that the Transfer Fee is reasonably required to reimburse Franchisor

for its expenses relating to said assignment, and which amount is payable as follows

unless otherwise agreed to in writing by Franchisor: (i) a non-refundable amount of

$10,000.00 must be paid at the time the Franchisor approves in writing a term sheet

or letter of intent agreed to and signed by the Franchisee and the assignee, and (ii)

the remaining $20,000.00 must be paid to Franchisor at the closing of the

transaction between Franchisee and the assignee. In the event Franchisee authorizes

Franchisor to find an assignee who is not then currently a franchisee of an operating

Christian Brothers Automotive franchise location, Franchisee shall execute an

agreement (the "Transaction Fee Ag

Source: Item 23 — RECEIPTS (FDD pages 76–372)