Can Crisp & Green transfer its rights or obligations under the Franchise Agreement to another party?
Crisp_Green Franchise · 2024 FDDAnswer from 2024 FDD Document
e Premises for the operation of a CRISP & GREEN Restaurant as contemplated by the Franchise Agreement is in compliance with, and does not violate, any restriction or covenant regarding use of the Premises, and (ii) no other party has any contractual right inconsistent with the use of the Premises for the operation of a CRISP & GREEN Restaurant.
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- Assignment. Tenant has the right to assign all of its right, title and interest in the Lease to Franchisor, or its affiliates, at any time during the term of the Lease, including any extensions or renewals, without first obtaining Landlord's consent to such assignment; provided, however, no assignment of the Lease will be effective until Franchisor or its designated affiliate gives Landlord written notice of its acceptance of such assignment. If Franchisor, or its affiliate, elects to accept assignment of the Lease under this paragraph or unilaterally accepts assignment of the Lease as provided for in this Addendum, then Landlord and Tenant agree that (i) Tenant will remain liable for the responsibilities and obligations under the Lease, including without limitation,
amounts owed to Landlord, prior to the date of such assignment, and (ii) Franchisor, or its affiliate, will have the right to thereafter assign the Lease or sublease the Premises to a franchisee of Franchisor without the prior consent or approval of Landlord; provided, however, such franchisee shall agree to operate the Premises pursuant to a franchise agreement with Franchisor. Franchisor, or its affiliate, shall only be responsible for obligations under the Lease arising or incurred during such time that Franchisor, or such affiliate, is the tenant under the Lease.
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- Default and Notice. In the event there is a default or violation by Tenant under the terms of the Lease, Landlord agrees to give Franchisor written notice of such default or violation on the same day Landlord provides such notice to Tenant.
Source: Item 23 — RECEIPTS (FDD pages 66–252)
What This Means (2024 FDD)
Based on the 2024 Crisp & Green Franchise Disclosure Document, the landlord agrees that Crisp & Green has the right to assign all of its right, title, and interest in the lease to the Franchisor, or its affiliates, at any time during the term of the lease, including any extensions or renewals, without first obtaining the landlord's consent to such assignment. However, no assignment of the lease will be effective until Crisp & Green Franchising LLC or its designated affiliate gives the landlord written notice of its acceptance of such assignment.
If Crisp & Green Franchising LLC, or its affiliate, elects to accept assignment of the lease, the tenant will remain liable for the responsibilities and obligations under the lease, including amounts owed to the landlord, prior to the date of such assignment. Crisp & Green, or its affiliate, will have the right to thereafter assign the lease or sublease the premises to a franchisee of Crisp & Green without the prior consent or approval of the landlord, provided that such franchisee agrees to operate the premises pursuant to a franchise agreement with Crisp & Green.
Crisp & Green, or its affiliate, will only be responsible for obligations under the lease arising or incurred during such time that Crisp & Green, or such affiliate, is the tenant under the lease. In the event there is a default or violation by the tenant under the terms of the lease, the landlord agrees to give Crisp & Green written notice of such default or violation on the same day the landlord provides such notice to the tenant. Crisp & Green has the right, but is under no obligation, to cure the default or violation of the tenant set forth in any notice provided by the landlord and has an additional fifteen days after the expiration of the tenant's cure period in which to cure the default or violation.