What documents must the Cream franchisee and transferee sign in connection with a transfer?
Cream Franchise · 2025 FDDAnswer from 2025 FDD Document
ransfer, and all other information we request about the proposed transfer, and such transfer meets all of our requirements, including terms, closing date, purchase price, amount of debt and payment terms, and we have determined that the purchase price and other terms of the transfer will not adversely affect the operation of your Shop;
(4) you (and your owners) and the transferee (and its owners) sign all of the documents we are then requiring in connection with a transfer, in a form satisfactory to us, including: (i) a release of any and all claims (except for claims which cannot be released or waived pursuant to applicable law) against us and our affiliates and our and their owners, officers, directors, employees, and agents, and (ii) covenants that you and your transferring owners agree to satisfy all post-termination obligations under this Agreement;
(5) all persons required to complete training under the transferee's franchise agreement satisfactorily complete our training program, and transferee has paid all costs and expenses we incur to provide the training program to such persons;
(6) if the proposed transfer requires notice to or approval from the landlord of the Premises, or any other action under the terms of the Lease, you have taken such appropriate action and delivered us evidence of the same;
(7) you have corrected any existing deficiencies of your Shop of which we have notified you, and/or the transferee agrees to upgrade, remodel, and refurbish your Shop in accordance with our then-current specifications for Jeni's Ice Creams Scoop Shops within the time period we specify following the date of the transfer and the transferee agrees to escrow an amount we approve for payment of the required upgrade, remodel or refurbishment;
(8) the transferee must (if the transfer is of this Agreement or your Shop), sign our then-current form of franchise agreement and related documents, any and all of the provisions of which may differ materially from any and all of those contained in this Agreement, including the Royalty and the Brand Fund Contribution; provided, that the term of the new franchise agreement signed will equal the then-remaining Term;
(9) the transferee(s) must (if the transfer is any beneficial or ownership interest in you) (i) sign our then-current form of guaranty undertaking personally to be bound, jointly and severally, by all provisions of this Agreement and any ancillary agreements between you and us, and (ii) provide us with an updated Attachment A;
Source: Item 23 — RECEIPTS (FDD pages 61–192)
What This Means (2025 FDD)
According to Cream's 2025 Franchise Disclosure Document, both the franchisee (and their owners) and the transferee (and their owners) must sign all documents that Cream requires for a transfer. These documents must be in a form satisfactory to Cream. These include: a release of any and all claims (except for claims which cannot be released or waived pursuant to applicable law) against Cream and its affiliates, as well as their owners, officers, directors, employees, and agents. Additionally, they must sign covenants agreeing to satisfy all post-termination obligations under the Franchise Agreement.
If the transfer involves any beneficial or ownership interest, the transferee must sign Cream's current form of guaranty. This guaranty ensures they are personally bound, jointly and severally, by all provisions of the Franchise Agreement and any related ancillary agreements between the franchisee and Cream. The transferee must also provide an updated Attachment D.
In cases where a franchisee transfers the agreement to a wholly-owned entity, the franchisee must sign Cream's current form of personal guaranty, ensuring they remain personally liable under the agreement. They must also sign a form of consent to assignment and assignment that is satisfactory to Cream, which may include a release of claims against Cream and its affiliates.