Common use of Transfer of Processing Fees Clause in Contracts

Transfer of Processing Fees. Section 10.02(k) of the Franchise Agreement is deleted and replaced with the following: “In the event Franchisee Transfers a ten percent (10%) or greater equity interest in Franchisee, a Transfer that would result in a change in Control of Franchisee, or an assignment of this Agreement, Franchisee shall pay to Franchisor a non-refundable transfer and processing fee of $5,000. Such transfer and processing fees are payable upon the Transfer or assignment.”

Transfer of Processing Fees. Section 10.02(k) of the Franchise Agreement is deleted and replaced with the following: “In the event Franchisee Transfers a ten percent (10%) or greater equity interest in Franchisee, a Transfer that would result in a change in Control of Franchisee, or an assignment of this Agreement, Franchisee shall pay to Franchisor a non-refundable transfer and processing fee of $5,000. Such transfer and processing fees are payable upon the Transfer or assignment.”