What is the definition of 'Assignee' in the context of the Moes Southwest Grill dispensing equipment lease?
Moes_Southwest_Grill Franchise · 2025 FDDAnswer from 2025 FDD Document
Customer agrees that Company may transfer or assign all or any part of Company's right, title and interest in or to any Equipment (in whole or in part) and this Lease, and any amounts due or to become due, to any third party ("Assignee") for any reason. Upon receipt of written notice from Company of such assignment, Customer will perform all its
Source: Item 22 — Contracts (FDD page 92)
What This Means (2025 FDD)
According to the 2025 Moes Southwest Grill Franchise Disclosure Document, an "Assignee" in the context of the dispensing equipment lease refers to any third party to whom Moes Southwest Grill may transfer or assign all or part of its rights, title, and interest in the equipment or the lease agreement. This includes any amounts due or to become due.
For a prospective Moes Southwest Grill franchisee, this means that the original lessor, Moes Southwest Grill, can transfer its rights and responsibilities regarding the dispensing equipment to another party. This could be a financing company, another business entity, or any other third party.
Upon receiving written notice of such an assignment from Moes Southwest Grill, the franchisee is obligated to fulfill all responsibilities related to the equipment for the benefit of the new Assignee. This includes making payments directly to the Assignee or any other party the Assignee designates, if instructed. This clause ensures that Moes Southwest Grill retains flexibility in managing its assets and financing arrangements, while the franchisee must comply with the new arrangements once properly notified.