What must the Assignor pay to Sonesta Simply Suites representing amounts due?

According to the 2025 Sonesta Simply Suites FDD, if a franchisee seeks to transfer their franchise to a new owner (an Assignee), the Assignor must pay Sonesta Simply Suites certain amounts. Specifically, the Assignor is responsible for paying Sonesta Simply Suites an amount representing what is due to them through the closing date of the transfer. This includes, but is not limited to, any past due amounts. The exact amount due is not specified in the excerpt.

This condition ensures that Sonesta Simply Suites receives all outstanding payments before the franchise is transferred to a new owner. This protects Sonesta Simply Suites's financial interests and ensures that the new franchisee starts with a clean financial slate.

Prospective franchisees should note that the specific amounts due will vary depending on the individual circumstances of the franchise and any outstanding obligations at the time of the transfer. It is important for both the Assignor and Assignee to have a clear understanding of these amounts to avoid any disputes or delays in the transfer process.

To determine the exact amount, a prospective franchisee should consult their existing franchise agreement and communicate directly with Sonesta Simply Suites to obtain a detailed statement of all outstanding amounts due.