Common use of Transfers and Assignment Clause in Contracts

Transfers and Assignment. Your rights under this Addendum are personal to you and may not be transferred in conjunction with the Franchise Agreement and do not inure to the benefit of your successors or assigns. You may not transfer or assign any rights under this Addendum in a manner regardless if part of or separate from the transfer or assignment of the entire Franchise Agreement. This Addendum will automatically cancel if you engage in any transaction in which 50% or more of the ownership interests in the Franchise Owner (including any equity interests, profits interests, or rights to cash flows) is transferred to anyone who serves as an officer, director, manager or other principal executive serving in a role similar to that of an officer and director of a corporation who is not affiliated with the current Franchise Owner.

Transfers and Assignment. Your rights under this Addendum are personal to you and may not be transferred in conjunction with the Franchise Agreement and do not inure to the benefit of your successors or assigns. You may not transfer or assign any rights under this Addendum in a manner regardless if part of or separate from the transfer or assignment of the entire Franchise Agreement. This Addendum will automatically cancel if you engage in any transaction in which 50% or more of the ownership interests in the Franchise Owner Area Representative (including any equity interests, profits interests, or rights to cash flows) is transferred to anyone who serves as an officer, director, manager or other principal executive serving in a role similar to that of an officer and director of a corporation who is not affiliated with the current Franchise OwnerArea Representative.