Selling of a Tori Belle Business Sample Clauses

Selling of a Tori Belle Business. Although a Tori Belle Business is a privately owned and independently operated business, the sale, transfer, or assignment of a Tori Belle Business is subject to certain limitations. If an Affiliate wishes to sell their Tori Belle Business, the seller must notify Tori Belle’s Compliance Department in writing to advise the Company of their intent to sell their Tori Belle Business and receive further instructions. The seller must also receive written approval from the Compliance Department before proceeding with the sale, which approval shall be in the Company’s sole discretion. The Company shall reserve the right (i) to not assign the Agreement or (ii) to terminate the Agreement without advance notice in the event such a sale, transfer, or assignment occurs without the Company’s approval. The Company will consider the following criteria: • The selling Affiliate must obtain an independent appraisal of their business by a reputable and mutually acceptable appraiser. • The selling Affiliate must obtain and have maintained the rank of Influencer or above for a period of one year (1) prior to the sale of their business. • The selling Affiliate must offer Tori Belle Cosmetics the right of first refusal to purchase the business on the same terms as agreed upon with the third-party buyer. • Tori Belle Cosmetics shall have fifteen (15) days from the date of receipt of the written offer from the seller to exercise its right of first refusal. • The buyer or transferee must be or become a Tori Belle Affiliate. • Before the sale, transfer or assignment can be finalized and approved by Tori Belle Cosmetics, any debt obligations the selling party has with the Company must be satisfied. • The selling party must be in good standing and not in violation of any of the terms of the Agreement in order to be eligible to sell, transfer or assign a Tori Belle Business. • The selling Affiliate and the buyer must provide releases or any other such material that the Company requires prior to the sale of the business. • The entire purchase price must be paid in full to the seller prior to transfer of the business
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