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DRAFT FOR ATTORNEY REVIEW — NOT FINAL

Northwest Plaza, L.L.C. v. Michael-Glen, Inc., 102 S.W.3d 552 (2003)

Citation
Northwest Plaza, L.L.C. v. Michael-Glen, Inc., 102 S.W.3d 552 (2003)
Parent Document
Northwest Plaza, L.L.C. v. Michael-Glen, Inc., 102 S.W.3d 552 (2003)
Jurisdiction
Missouri (state)
Effective Date
2003-03-25

Other Sections in This Document (68)

Full Text

1,102 chars
Notwithstanding anything contained herein to the contrary, [BSE] shall have the right to freely assign this Lease or sublet the Premises, without charge and without [Northwest Plaza]’s consent being required, to duly authorized franchisees of Quizno’s Franchise Corporation (“Franchisor”), provided, however, that [BSE] shall remain fully liable for the terms, covenants and conditions of this Lease unless the entity to which [BSE] assigns is of equal or greater net worth than [BSE] at the time of the assignment, and further provided that a personal guaranty is given to [Northwest Plaza] in a form substantially similar to the form signed by Steve Shaffer in connection with this Lease for the greater of (a) the time remaining on the Guaranty given by Steve Shaffer (at which time Steve Shaffer’s Guaranty will be released[ ]) or (b) two (2) years from the date of the assignment. Nothwith-standing the foregoing, if the entity to which [BSE] assigns has a net worth of in excess of $500,000 and agrees to maintain such a net worth, no personal *555 guaranty will be required by [Northwest Plaza].