What standards must a prospective Monicals Pizza transferee satisfy to the Franchisor?

• 18.2.5 the terms and conditions of the then current Franchise Agreement (as of the date of the transfer) shall be fully effective against the transferee;
• 18.2.6 the transferee has executed a General Release, releasing any and all claims against Franchisor and its officers, directors, shareholders, managers, members, partners, owners and employees (in their corporate and individual capacities) with respect to any representations regarding the Franchise or the business conducted pursuant thereto or any other matter that may have been made to the transferee by Franchisee and/or Franchisor;
• 18.2.7 written certification that Franchisee has provided Franchisor with a complete copy of all contracts and agreements and related documentation between Franchisee and the prospective transferee relating to the intended sale or transfer of the Franchise;
• 18.2.8 Franchisee, or the transferee, has paid to Franchisor a transfer fee in the amount of TEN THOUSAND DOLLARS ($10,000.00);
• 18.2.9 the transferee, and all holders of a legal or beneficial interest in any entity that is to be a Franchise Operating Entity, have agreed to be personally bound jointly and severally by all provisions of this Agreement for the remainder of its term;
• 18.2.10 Franchisee has agreed to be bound to the obligations of the new franchise agreement and to guarantee the full performance thereof by the transferee, if required by Franchisor;
• 18.2.11 the transferee has obtained all necessary consents and approvals from third parties and all applicable federal, state and local laws, rules, ordinances and requirements applicable to the transfer have been complied with or satisfied;
• 18.2.12 the transferee has, and if the transferee is to be a Franchise Operating Entity, all of the holders of a legal and beneficial interest in the transferee have executed and delivered to Franchisor a Nondisclosure and Non-Competition Agreement;
• 18.2.13 the transferee agrees that its Designated Manager shall complete, to Franchisor's satisfaction, a training program in substance similar to the initial training described in Section 8.1 prior to assuming the management of the day-to-day operation of the Franchised Restaurant; and both Franchisee and the transferee have satisfied Franchisor that the Franchised Restaurant shall continue to be operated by a properly trained Designated Manager until such time as the transferee's Designated Manager shall have completed the necessary training; and
• 18.2.14 the transferee has obtained all necessary types of insurance as described in Section 15.1.

Source: Item 23 — RECEIPTS (FDD pages 46–257)