ASSIGNMENT OF PARTNERSHIP INTEREST
THIS ASSIGNMENT made this 16 day of April, 2002, (“Assignment”) by and between WEA, INC., a Georgia corporation (“WEA”) and CHECKERS DRIVE-IN RESTAURANTS, INC., a Delaware
corporation, successor by merger to Checkers Drive-In Restaurants of North America, Inc., a Nevada corporation (“Checkers”);
WITNESSETH
WHEREAS WEA and Checkers are all the partners of CHA PARTNERS, a Georgia
general partnership (“CHA”);
WHEREAS WEA desires to sell, transfer and convey to Checkers and Checkers
desires to purchase and receive all of WEA’s partnership interest and WEA’s undivided interest in the assets of CHA;
NOW THEREFORE, for and in consideration of the sum of Forty Thousand and No/100 ($40,000) Dollars in hand paid to WEA by Checkers contemporaneously herewith and other good and valuable consideration and the mutual covenants set forth
herein, the receipt and sufficiency of which is hereby acknowledged, the parties hereto agree as follows:
1. |
Assignment of Partnership Interest. WEA does hereby irrevocably assign, transfer and convey to Checkers all of its right, title
and interest as a general partner of CHA including, but not limited to, its assets, goodwill, name and all rights WEA has, had, or may in the future have had under the Agreement of General Partnership for CHA Partners dated November 7, 1989.
|
2. |
Continuation of Partnership Business. Checkers may continue to carry on the business of CHA under the partnership name without
winding up the partnership affairs. |
3. |
Responsibility for Taxes or Share of Profits. WEA shall be responsible for and pay all federal and state income taxes on
WEA’s share of the profits of CHA for the fiscal year ending December 31, 2002 as well as such other taxes as may be assessed against WEA. |
4. |
Mutual Release. The execution and delivery of this Assignment by WEA and the acceptance thereof by Checkers shall operate as a
full, final and complete mutual release and discharge of all past, present or future claims and obligations whatsoever as between WEA on the one hand and CHA and Checkers on the other including, but not limited to, any claim or right WEA may have to
all or any portion of the sum being paid to CHA by Xxxxxxxxx & Company on behalf of the Xxxx County-Marietta Water Authority, Marietta Board of Lights and Waterworks, et al., for an easement and the relocation of certain signs located on the
premises of the Checker’s Restaurant located at 00 Xxxx Xxxxxxx, X. X., Xxxxxxxx, Xxxx Xxxxxx, Xxxxxxx 00000. |
WHEREFORE the parties hereto, by and through their duly authorized officers, have
caused this Assignment to be executed and their seals affixed intending to be fully bound as the day and year first above written.
“WEA” | ||||||
WEA, Inc., a Georgia corporation | ||||||
Witness |
||||||
By: |
||||||
Notary Public |
Name: |
|||||
Title: |
||||||
[CORPORATE SEAL] | ||||||
“Checkers” | ||||||
Checkers Drive-In Restaurants, Inc., | ||||||
Successor by merger to | ||||||
Checkers Drive-In Restaurants of North | ||||||
America, Inc., a Nevada corporation | ||||||
/s/ XXXXXX X. JERKEN |
||||||
Witness |
||||||
/s/ XXXXXX X. XXXXXX |
||||||
Notary Public |
By: |
/s/ XXXXX X. XXXXXX | ||||
Name: |
Xxxxx X. Xxxxxx | |||||
Title: |
Vice President, Corporate Counsel and Secretary | |||||
[CORPORATE SEAL] | ||||||
WHEREFORE the parties hereto, by and through their duly authorized officers, have caused this Assignment to be executed
and their seals affixed intending to be fully bound as the day and year first above written.
“WEA” | ||||||
WEA, Inc., a Georgia corporation | ||||||
/s/ XXXXXXX X. XXXX |
||||||
Witness |
||||||
/s/ XXXXXXX |
By: |
/s/ XXXXX X. XXXXXXX | ||||
Notary Public |
Name: |
Xxxxx X. Xxxxxxx | ||||
Title: |
President | |||||
[CORPORATE SEAL] | ||||||
“Checkers” | ||||||
Checkers Drive-In Restaurants, Inc., | ||||||
Successor by merger to | ||||||
Checkers Drive-In Restaurants of North | ||||||
America, Inc., a Nevada corporation | ||||||
Witness |
||||||
Notary Public |
By: |
|||||
Name: |
||||||
Title: |
||||||
[CORPORATE SEAL] | ||||||