What conditions must be met for a Desi District franchisee to transfer their agreement for convenience of ownership?

According to Desi District's 2024 Franchise Disclosure Document, a franchisee who is an individual may transfer their agreement to a corporation or limited liability company for convenience of ownership, provided they meet certain conditions. The franchisee must give Desi District at least 15 days' notice before the transfer.

Prior to the transfer, the entity to which the franchise is being transferred must provide all information required by Section 2.3 of the franchise agreement, which likely pertains to details about the new business entity and its owners. The franchisee must also provide copies of the entity's charter documents, by-laws (or operating agreement), and similar documents if Desi District requests them.

Additionally, the franchisee must own all voting securities of the corporation or limited liability company. Finally, the franchisee must provide a guaranty in accordance with Section 2.5 of the franchise agreement, which likely involves a personal guarantee ensuring the franchisee remains responsible for the obligations under the franchise agreement even after the transfer to the new entity.