Other Assignment. In addition to any assignments or contingent assignments contemplated by the terms of sub-paragraphs (a), (b) or (c) of this paragraph 24, Franchisee shall not sell, transfer or assign this Territory or Agreement to any person or persons without ZLand's prior written consent. Such consent shall not be unreasonably withheld. In the event that any transfer under this section is made to an existing ZLand franchisee, the transfer fee shall be waived. In determining whether to grant or withhold such consent, ZLand shall consider for each prospective transferee, by way of illustration, the following: (i) work experience and aptitude, (ii) financial background, (iii) character, (iv) ability to personally devote full time and best efforts to managing the Territory, (v) residence in the locality of the Territory, (vi) equity interest in the Territory, (vii) conflicting interests, (viii) willingness to sign the then current Agreement, and (ix) such other criteria and conditions as ZLand shall then apply in the case of an application for a new franchise to operate a ZLand franchise. ZLand's consent shall also be conditioned upon each transferee's execution of an agreement by which transferee personally assumes full and unconditional liability for and agrees to perform from the date of such transfer all obligations, covenants and agreements contained in this Agreement to the same extent as if transferee had been an original party to this Agreement. Franchisee-transferor shall continue to remain personally liable for all affirmative obligations, covenants and agreements contained herein for the full term of this Agreement unless Franchisee-transferor executes a mutual release of all claims known and unknown with ZLand, in a form satisfactory to ZLand, at the time of the transfer.
Appears in 1 contract
Sources: Franchise Agreement (Zland Com Inc)
Other Assignment. In addition to any assignments or contingent assignments contemplated by the terms of sub-paragraphs (a), ) and (b) or (c) of this paragraph 24, Franchisee shall not sell, transfer or assign this Territory or Agreement to any person or persons without ZLand's prior ZLan▇.▇▇▇'▇ ▇rior written consent. Such consent shall not be unreasonably withheld. In the event that any transfer under this section is made to an existing ZLand franchiseeZLan▇.▇▇▇ ▇▇▇nchisee, the transfer fee shall be waived. In determining whether to grant or withhold such consent, ZLand shall ZLan▇.▇▇▇ ▇▇▇ll consider for each prospective transferee, by way of illustration, the following: (i) work experience and aptitude, (ii) financial background, (iii) character, (iv) ability to personally devote full time and best efforts to managing the Territory, (v) residence in the locality of the Territory, (vi) equity interest in the Territory, (vii) conflicting interests, (viii) willingness to sign the then current Agreement, and (ix) such other criteria and conditions as ZLand shall ZLan▇.▇▇▇ ▇▇▇ll then apply in the case of an application for a new franchise to operate a ZLand franchiseZLan▇.▇▇▇ ▇▇▇nchise. ZLand's consent ZLan▇.▇▇▇'▇ ▇onsent shall also be conditioned upon each transferee's execution of an agreement by which transferee personally assumes full and unconditional liability for and agrees to perform from the date of such transfer all obligations, covenants and agreements contained in this Agreement to the same extent as if transferee had been an original party to this Agreement. Franchisee-transferor shall continue to remain personally liable for all affirmative obligations, covenants and agreements contained herein for the full term of this Agreement unless Franchisee-transferor executes a mutual release of all claims known and unknown with ZLandZLan▇.▇▇▇, in ▇▇ a form satisfactory to ZLandZLan▇.▇▇▇, at ▇▇ the time of the transfer.
Appears in 1 contract
Sources: Franchise Agreement (Zland Com Inc)
Other Assignment. In addition to any assignments or contingent assignments contemplated by the terms of subSub-paragraphs (Paragraph a), (b) or (c) of this paragraph 24Para▇▇▇▇▇ ▇▇, Franchisee shall ▇▇▇▇▇▇▇▇▇▇ ▇▇▇ll not sell, transfer or assign this Territory or Agreement to any person or persons without ZLand's prior written consent. Such consent shall not be unreasonably withheld. In the event that any transfer under this section Section is made to an existing ZLand franchisee, the transfer fee shall be waived. In determining whether to grant or withhold such consent, ZLand shall consider for each prospective transferee, by way of illustration, the following: :
(i) work experience and aptitude, attitude,
(ii) financial background, ,
(iii) character,
(iv) ability to personally devote full time and best efforts to managing the Territory, ,
(v) residence in the locality of the Territory, ,
(vi) equity interest in the Territory, ,
(vii) conflicting interests, ,
(viii) willingness to sign the then then-current Agreement, and and
(ix) such other criteria and conditions as ZLand shall then apply in the case of an application for a new franchise to operate a ZLand franchise. ZLand's consent shall also be conditioned upon each transferee's execution of an agreement by which transferee personally assumes full and unconditional liability for and agrees to perform from the date of such transfer all obligations, covenants and agreements contained in this Agreement to the same extent as if transferee had been an original party to this Agreement. Franchisee-transferor shall continue to remain personally liable for all affirmative obligations, covenants and agreements contained herein for the full term of this Agreement unless Franchisee-transferor executes a mutual release of all claims known and unknown with ZLand, in a form satisfactory to ZLand, at the time of the transferAgreement.
Appears in 1 contract
Sources: Franchise Agreement (Zland Com Inc)