What document must new Learningrx owners sign during a transfer?

According to Learningrx's 2025 Franchise Disclosure Document, a proposed transferee must execute a separate franchise agreement with Learningrx, utilizing the then-current form of the franchise agreement. Additionally, the individual proposed transferee, or the relevant parties of a proposed entity transferee, must each execute a personal guarantee, jointly and severally guaranteeing the performance of the proposed transferee's obligations.

This requirement ensures that the new Learningrx franchisee is bound by the current terms and conditions of the franchise agreement, protecting Learningrx's interests and maintaining consistency across its franchise network. The personal guarantee provides Learningrx with an additional layer of security, ensuring that the transferee's obligations are met.

Furthermore, if the transfer involves an Area Developer, the transferee must enter into a written assignment, in a form satisfactory to Learningrx, assuming and agreeing to discharge all of the Area Developer's obligations under the relevant franchise agreements. If deemed necessary by Learningrx, the transferee's principals must also individually guarantee the performance of all such obligations in writing, in a form satisfactory to Learningrx. This ensures that the obligations of the Area Developer are fully transferred and guaranteed by the new party, safeguarding Learningrx's interests in the area development agreement.