Sale of Franchised Business. If Franchisee (or its shareholders, managing partners, managing members, members, or owners) desire to sell the Deli Delicious™ franchised business or any more than twenty percent (20%) of the stock, membership units, or partnership units, whether one time or in the aggregate, then within 10 business days after receipt by Franchisee (or its heirs, estate, guardian, trustee or assigns) of a bona fide offer acceptable to Franchisee to buy all or part of the franchised business, Franchisee will notify Franchisor of the offer in writing, enclosing a signed copy of the offer. Franchisor or its assignee may then purchase (exercise its right of first refusal as described in Section XXII.C) and acquire the franchised business and Franchisee's rights under this Agreement at the price and on the same terms and conditions as offered to Franchisee. Franchisor may substitute cash for any other form of consideration contained in the offer and, at Franchisor's option, may pay the entire purchase price at closing. Franchisor may exercise this right to purchase in writing within 30 days after receiving Franchisee's notice. If Franchisor does not exercise its right to purchase within 30 days, Franchisee may thereafter sell the franchised business to a third party, but not at a lower price or on more favorable terms than disclosed to Franchisor in writing. Sale is subject to Franchisor's prior written approval as specified in this Agreement. If Franchisee does not sell the franchised business to the assignee within 90 days from the date it is offered to Franchisor, then Franchisee must again extend the first right of refusal to Franchisor before transfer to a third party. To enable Franchisor to determine whether it will exercise its option, Franchisee or an Owner shall provide such information and documentation, including financial statements, as Franchisor may require (as noted below). In the event that Franchisor elects to purchase said interest, closing on such purchase must occur within 90 days from the date of notice to the seller of the election to purchase said Interest by Franchisor. Failure of Franchisor to exercise the option afforded by this Section XXII.D shall not constitute a waiver of any other provision of this Agreement, including all of the requirements of this Section XXII.B, with respect to a proposed transfer of any interest. Any subsequent change in the terms of any offer prior to closing shall constitute a new offer subject to the same rights of first...
Sale of Franchised Business. In the event that a franchise is transferred in compliance with a Franchise Agreement while this Agreement is in effect, then thisAgreement will also be assigned to the transferee of such franchise, who shall agree to be boundby the terms of this Agreement with respect to such franchise. If not all franchises subject to thisAgreement are transferred, then this Agreement shall continue for the non-transferred franchises and the parties shall enter into a new Agreement under these terms for the transferredfranchise. Notwithstanding the foregoing, Honor consent shall be required to transfer theAddendum. Franchisee shall provide Honor with at least 30 says’ written notice of its intent to transfer the Franchise Agreement and this Agreement.Notwithstanding anything to the contrary herein or in the Franchise Agreement, any required consent by HII or Honor to the transfer of a Home Instead franchise shall not be unreasonably withheld.
