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    Assignment of Franchise Draft

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    Sai Krishna
    Assignment of Franchising Rights License Agreement This Assignment of Franchising Rights License Agreement (“Assignment”) is made this _____ day of September, 2005, by and between Famous Uncle Al’s Hot Dogs, Inc., a Delaware corporation (“Licensee”), Licensee’s parent corporation Famous Food Groups, Inc., a Delaware corporation (Parent), and National Franchise Directors, Inc., a Delaware corporation (“Assignee”), individually a “party” and collectively

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    © All Rights Reserved
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    Assignment of Franchise Draft

    Uploaded by

    Sai Krishna
    203 views4 pages
    Assignment of Franchising Rights License Agreement This Assignment of Franchising Rights License Agreement (“Assignment”) is made this _____ day of September, 2005, by and between Famous Uncle Al’s Hot Dogs, Inc., a Delaware corporation (“Licensee”), Licensee’s parent corporation Famous Food Groups, Inc., a Delaware corporation (Parent), and National Franchise Directors, Inc., a Delaware corporation (“Assignee”), individually a “party” and collectively

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    © © All Rights Reserved

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    Assignment of Franchising Rights License Agreement This Assignment of Franchising Rights License Agreement (“Assignment”) is made this _____ day of September, 2005, by and between Famous Uncle Al’s Hot Dogs, Inc., a Delaware corporation (“Licensee”), Licensee’s parent corporation Famous Food Groups, Inc., a Delaware corporation (Parent), and National Franchise Directors, Inc., a Delaware corporation (“Assignee”), individually a “party” and collectively

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    203 views4 pages

    Assignment of Franchise Draft

    Uploaded by

    Sai Krishna
    Assignment of Franchising Rights License Agreement This Assignment of Franchising Rights License Agreement (“Assignment”) is made this _____ day of September, 2005, by and between Famous Uncle Al’s Hot Dogs, Inc., a Delaware corporation (“Licensee”), Licensee’s parent corporation Famous Food Groups, Inc., a Delaware corporation (Parent), and National Franchise Directors, Inc., a Delaware corporation (“Assignee”), individually a “party” and collectively

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 4

    Assignment of Franchising Rights License Agreement

    This Assignment of Franchising Rights License Agreement


    (Assignment) is made this _____ day of September, 2005, by and
    between Famous Uncle Als Hot Dogs, Inc., a Delaware corporation
    (Licensee), Licensees parent corporation Famous Food Groups, Inc., a
    Delaware corporation (Parent), and National Franchise Directors, Inc., a
    Delaware corporation (Assignee), individually a party and collectively
    the parties, and provides as follows:

    Recitals

    Whereas Licensee entered into that Franchising Rights License


    Agreement dated ______ November, 2002, by and among Licensee,
    Famous Uncle Als, Inc., a Virginia corporation (Licensor), and Famous
    Uncle Als Franchising Corporation, a Virginia corporation (UAF) (the
    Original Franchise Agreement), wherein Licensee became entitled to
    certain exclusive franchising rights and privileges, as set forth in that
    Original Franchise Agreement;

    Whereas the Original Franchise Agreement was amended by


    Supplemental Agreement dated ___ September, 2005, by and among
    Licensor, UAF, Licensee, and Assignee, which Supplemental Agreement
    expressly authorized assignment by Licensee to Assignee (the Original
    Franchise Agreement, as amended by the Supplemental Agreement, shall
    hereinafter collectively be referred to as the Franchise Agreement); and

    Whereas Licensee, Parent, and Assignee are parties to that


    Settlement Agreement dated ______ September 2005 (the Settlement
    Agreement), in which it was agreed by all parties thereto that Licensee
    should assign its franchising rights and interests in all existing franchises
    to Assignee as part of the terms and conditions of that Settlement
    Agreement; and
    Whereas Licensee wishes to assign and transfer all of its right, title
    and interest in and to, and obligations under, the Franchise Agreement to
    Assignee, and Assignee desires transfer of same;

    Agreement

    NOW THEREFORE, in consideration of the foregoing recitals and the


    mutual promises, covenants and conditions of the parties hereto, the
    receipt and sufficiency of which is hereby acknowledged, the parties do
    hereby covenant and agree as follows:

    1.

    Licensee does hereby grant, assign, convey and transfer to Assignee all
    of Licensees right, title and interest in, and its obligations under, the
    Franchise Agreement, including any rights and obligations under any
    currently-existing franchises sublicensed by Licensee thereunder, and
    Licensee fully authorizes and empowers Assignee to exercise all rights as
    Licensee under the terms of that Franchise Agreement, and in the same
    manner as Licensee might or could do thereunder.

    2.

    Assignee hereby expressly assumes all of the terms, covenants, conditions


    and obligations under the terms of the Franchise Agreement, and any
    currently-existing franchises sublicensed by Licensee thereunder, and
    expressly agrees to be bound thereby, and assumes full performance of
    same.

    3.

    Except for the substitution of the Assignee as the Licensee, all of the
    other terms, covenants and conditions of the Franchise Agreement
    remain the same.
    IN WITNESS WHEREOF, the Parties have executed this Assignment
    effective as of the date first written above.

    Famous Uncle Als Hot Dogs, Inc.

    By: ________________________

    James Ditanna, Director

    Date: ______________________

    Famous Food Groups, Inc.

    By: ________________________

    James Ditanna, President

    Date: ______________________

    National Franchise Directors, Inc.

    By: ________________________

    Dean Valentino, President

    Date: ________________________

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