Assignment or Transfer by the Owner. The Owner shall not assign or transfer, in whole or in part, the Owner’s interest in this agreement or the Owner’s Team except upon the terms and conditions provided in this Article 17. Any such assignment or transfer shall require the prior written consent of WPHLI, which WPHLI may withhold in its sole discretion. WPHLI may refuse to consider consenting to an assignment or transfer if any Material Default is in existence. By way of illustration and not limitation, WPHLI may withhold its consent if the proposed assignee or transferee does not meet WPHLI’s then current requirements for its new licensees, is not in WPHLI’s opinion financially and operationally capable of performing the then current obligations of WPHL System licensees, or has had previous business problems which, in the judgement of WPHLI, suggest that the proposed assignee or transferee may not be a suitable licensee of the WPHL System. WPHLI’s consent to any assignment or transfer shall not constitute a waiver of any claim, demand, action or cause of action which it may have against the Owner, and shall not constitute a release of any third party guarantee or covenant for performance of this agreement by the Owner.
