What is the 'Requested Assignment' referring to in the Crepe De Licious assignment agreement?
Crepe_De_Licious Franchise · 2025 FDDAnswer from 2025 FDD Document
| , 20, between Crepe Delicious Holding USA, Inc. ("Franchisor"), a |
|---|
| Delaware corporation, ("Former |
| Franchisee"), the undersigned owners of |
| Former Franchisee ("Owners") and, a |
| [State] [corporation/limited |
| liability company] ("New Franchisee"). |
| RECITALS |
| WHEREAS, Franchisor and Former Franchisee entered into that certain franchise agreement dated |
| , 20 ("Former Franchise Agreement"), in which Franchisor |
| granted |
| Former |
| Franchisee |
| the |
| right |
| to |
| operate |
| a |
| Crepe |
| de |
| licious |
| franchise |
| located |
| at |
| ("Franchised Business"); and |
| WHEREAS, Former Franchisee desires to assign ("Requested Assignment") the Franchised |
| Business to New Franchisee, New Franchisee desires to accept the Requested Assignment of the Franchised |
| Business from Former Franchisee, and Franchisor desires to approve the Requested Assignment of the |
| Franchised Business from Former Franchisee to New Franchisee upon the terms and conditions contained in |
| this Agreement, including that New Franchisee sign Franchisor's current form of franchise agreement |
| together with all exhibits and attachments thereto ("New Franchise Agreement"), contemporaneously |
| herewith. |
| NOW, THEREFORE, in consideration of the mutual covenants, promises, and agreements herein |
| contained, the parties hereto hereby covenant, promise, and agree as follows: |
| 1. |
| Payment of Fees. |
| In consideration for the Requested Assignment, Former Franchisee |
| acknowledges and agrees to pay Franchisor the Transfer Fee, as required under the Franchise Agreement |
| ("Franchisor's Assignment Fee"). |
| 2. |
| Assignment and Assumption. |
| Former Franchisee hereby consents to assign all of its rights |
| and delegate its duties with regard to the Former Franchise Agreement and all exhibits and attachments |
| thereto from Former Franchisee to New Franchisee, subject to the terms and conditions of this Agreement, |
| and conditioned upon New Franchisee's signing the New Franchise Agreement pursuant to Section 5 of this |
| Agreement. |
| 3. |
| Consent to Requested Assignment of Franchised Business. |
| Franchisor hereby consents to |
| the Requested Assignment of the Franchised Business from Former Franchisee to New Franchisee upon |
| receipt of the Franchisor's Assignment Fee from Former Franchisee and the mutual execution of this |
| Agreement by all parties. |
Source: Item 22 — CONTRACTS (FDD page 57)
What This Means (2025 FDD)
According to Crepe De Licious's 2025 Franchise Disclosure Document, the 'Requested Assignment' refers to the Former Franchisee's desire to assign the Franchised Business to a New Franchisee. This assignment is subject to the approval of Crepe De Licious and is governed by the terms and conditions outlined in the assignment agreement.
The agreement stipulates that the New Franchisee must accept the assignment of the Franchised Business from the Former Franchisee. Crepe De Licious's approval is contingent upon the New Franchisee signing the current form of the franchise agreement, including all exhibits and attachments.
In consideration for the Requested Assignment, the Former Franchisee is responsible for paying Crepe De Licious the Transfer Fee, as required under the Franchise Agreement. The assignment involves the transfer of all rights and delegation of duties related to the Former Franchise Agreement from the Former Franchisee to the New Franchisee, conditional upon the New Franchisee signing the New Franchise Agreement.