Franchise License Agreement by maxwelllegal

VIEWS: 111 PAGES: 4

More Info
									                              Assignment Agreement

THE LAWS OF NORTH CAROLINA SHALL GOVERN THIS AGREEMENT


THIS ASSIGNMENT AGREEMENT (this ''Assignment''), dated as of _________________,
_________________, by _________________, having an address at _________________,
(''Borrower''), in favor of _________________, having an address at _________________
(together with its successors and assigns, ''Lender'').




                                                    E
WITNESSETH:

WHEREAS, concurrently herewith, Lender has made a loan to Borrower in the original
principal amount of _________________ DOLLARS ($ _________________) (the ''Loan''),
which Loan is evidenced by that certain Promissory Note, dated as of the date hereof, made
by Borrower in favor of Lender (as from time to time amended, modified, extended,
restated, supplemented or replaced, the ''Note'') and secured by, inter alia, that certain




                        PL
Deed of Trust, Security Agreement and Fixture Filing, dated of even date herewith, given by
Borrower to _________________ as trustee, for the benefit of Lender (as from time to time
amended, modified, extended, restated, supplemented or replaced, the ''Security
Instrument''), encumbering the Property (as defined in the Security Instrument); and

WHEREAS, as a condition to making the Loan, Lender has required that Borrower and
Franchisor enter into this Assignment for the benefit of Lender;

WHEREAS, the Security Instrument provides for the assignment by Borrower to Lender of
that certain Franchise Agreement, dated as of _________________, _________________
between Borrower and _________________ (''Franchisor'') (as from time to time amended,
modified, extended, restated, supplemented or replaced, the ''Franchise Agreement''), as
    M
additional security for Borrower's obligations under the Note, the Security Instrument and
the other Loan Documents (as defined in the Security Instrument); and

WHEREAS, Lender, Borrower and Franchisor have entered into or will enter into an
agreement regarding their respective rights to and obligations under the Franchise
Agreement (the ''Three Party Agreement'').

NOW, THEREFORE, in order to induce Lender to make the Loan and as additional security
SA

for the obligations of Borrower under the Note, the Security Instrument and the other Loan
Documents, intending to be legally bound hereby:
1. Assignment. Borrower hereby absolutely and unconditionally transfers, assigns and
delivers unto Lender, and grants Lender a security interest in, all of its right, title and
interest in and to (but none of its obligations under) the Franchise Agreement.

2. Borrower's Representations and Warr
								
To top