Common use of Sale, Assignment and Transfer Clause in Contracts

Sale, Assignment and Transfer. The Sub-Franchisor may assign, sell, and transfer ("Transfer") its interest in this Agreement or the Rights granted herein at anytime with FOURTEEN (14) DAYS prior notice to the Franchisor. A Transfer shall also mean the sale of all or a portion of the corporate shares of the Sub-Franchisor resulting in a charge in control. The Sub-Franchisor may without consent of the Franchisor and without notice to the Franchisor assign, sell and transfer all of her interest in this Agreement or the Rights to a corporation incorporated or to be incorporated in the Exclusive Territory (the "Assignee"), of which the Sub-Franchisor or a person of her immediate family (including child, parent, spouse, sibling) is a shareholder. To the extent the Assignee assumes the covenants and obligations of the Sub-Franchisor hereunder, the Sub-Franchisor shall thereupon and without further agreement, be freed and relieved of all liability with respect to such covenants and obligations.