Under what conditions can a Circle K Purchaser's interest in the agreement be transferred or assigned?
Circle_K Franchise · 2025 FDDAnswer from 2025 FDD Document
8. MISCELLANEOUS.
- (c) Purchaser shall not transfer or assign, in whole or in part, directly or indirectly, its interest in this Agreement without the prior written consent of Seller, which Seller may withhold in its absolute discretion, and any such transfer or assignment without Seller's prior written consent shall be null and void.
Purchaser acknowledges and agrees that any consent granted hereunder shall be expressly conditioned upon Purchaser remaining liable, in full, for any amounts due and owing to Seller under this Agreement.
Seller may transfer or assign, in whole or in part, directly or indirectly, its interest in this Agreement.
Source: Item 23 — RECEIPTS (FDD pages 100–359)
What This Means (2025 FDD)
According to the 2025 Circle K Franchise Disclosure Document, a Purchaser's ability to transfer or assign their interest in the agreement is restricted and requires the Seller's prior written consent. This consent can be withheld at the Seller's discretion. Even if consent is granted, the Purchaser remains fully liable for any outstanding amounts owed to the Seller under the agreement. This means that even after transferring the agreement, the original Purchaser is still responsible for any debts or obligations not fulfilled by the new party.
Circle K, however, retains the right to transfer or assign its interest in the agreement, either in whole or in part, directly or indirectly. This provides Circle K with flexibility in managing its contractual obligations and business operations.
Any transfer or assignment by the Purchaser without the Seller's prior written consent is considered null and void, reinforcing the Seller's control over the agreement and its transferability. This condition protects Circle K's interests by ensuring that any transfer of the agreement is subject to their approval and that the original Purchaser remains liable for any outstanding obligations.