What is the name of the company assigning the Area Development Agreement for Jersey Mikes?
Jersey_Mikes Franchise · 2025 FDDAnswer from 2025 FDD Document
FRANCHISOR: A SUB ABOVE, LLC
A SUB ABOVE, LLC ASSIGNMENT OF AREA DEVELOPMENT AGREEMENT (California)
This Assignment of Area Development Agreement is made by and between A Sub Above, LLC, a Delaware limited liability company having its principal place of business at 2251 Landmark Place, Manasquan, New Jersey 08736, (the "Franchisor"), [ORIGINAL DEVELOPER] (the "Assignor"), [NEW ENTITY] (the "Assignee"), and [GUARANTORS] (the "Guarantors"). This Assignment of Area Development Agreement shall take effect upon its execution and dating by Franchisor (the "Effective Date").
WHEREAS, Franchisor and Assignor entered into a A Sub Above, LLC Area Development Agreement on , 20 (the "Area Development Agreement"); and
WHEREAS, the Assignor desires to assign its rights as Developer under the Area Development Agreement to the Assignee; and
NOW THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is acknowledged, the Franchisor, Assignor, Assignee, and Guarantors hereby agree as follows:
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- The Assignor hereby assigns all of its right, title and interest in the Area Development Agreement to the Assignee. The Franchisor hereby consents to this transfer. The Assignee hereby assumes and agrees to comply with all of the terms and conditions of the Area Development Agreement.
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- Sections 1 and 2 of the Summary Pages of the Franchise Agreement are hereby amended and restated as follows:
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- DEVELOPER(S):
Business Name (if partnership, corporation or LLC):
Names of Individual(s) with Ownership Interests in ADA:
Name(s) of Authorized Signatory or Signatories:
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- DEVELOPER(S)'S GUARANTOR(S):
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- The Franchisor, the Assignor, the Assignee, and Guarantors shall execute this Assignment which shall be attached to and become part of the Area Development Agreement.
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- Except as amended by this Assignment, the Area Development Agreement remains in full force and effect.
Source: Item 22 — CONTRACTS (FDD page 77)
What This Means (2025 FDD)
According to Jersey Mike's 2025 Franchise Disclosure Document, A Sub Above, LLC, a Delaware limited liability company, is the entity assigning the Area Development Agreement. Their principal place of business is located at 2251 Landmark Place, Manasquan, New Jersey 08736. The agreement outlines the terms between A Sub Above, LLC, as the Franchisor, the original developer (Assignor), the new entity (Assignee), and any guarantors involved.
The assignment of the Area Development Agreement takes effect once it is executed and dated by Jersey Mike's Franchisor, A Sub Above, LLC. This agreement allows the Assignor to transfer their rights as a developer to the Assignee, with the Franchisor's consent. The Assignee, in turn, assumes responsibility for complying with all terms and conditions outlined in the original Area Development Agreement.
This assignment necessitates the execution of the agreement by the Franchisor, Assignor, Assignee, and any Guarantors, which then becomes an integral part of the Area Development Agreement. It's important to note that, unless specifically amended by this assignment, the original Area Development Agreement remains fully effective. This ensures a smooth transition of rights and responsibilities while maintaining the integrity of the initial agreement.