RESTAURANT TRANSFER FEE Clause Samples

RESTAURANT TRANSFER FEE. Each Pasta Central Restaurant franchise agreement provides that upon the sale of a Pasta Central Restaurant or controlling interest in a corporation that owns a Pasta Central Restaurant, 5% of the gross sales price shall be paid to Franchisor as a transfer fee. In connection therewith, provided Subfranchisor is not in default of this agreement, Franchisor agrees to share equally the 5% fee with Subfranchisor, provided Subfranchisor provides any and all necessary operational assistance and Pasta Central Restaurant supplementary training for the transferee franchisee at its own expense. Notwithstanding the foregoing, if the Pasta Central Restaurant franchisee is owned by Subfranchisor or the stockholders of Subfranchisor, no transfer fee shall be charged for transfers of the outstanding and issued shares of the corporate Subfranchisor to another corporation owned by Subfranchisor or between existing stockholders of the Subfranchisor and their immediate families (mother, children, wife, husband, father, brother or sister) or by bequest, devise, operation of law or otherwise in the event of the death of any of the stockholders of Subfranchisor.