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Resolution 2021-68
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Resolution 2021-68
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Last modified
5/7/2024 3:12:27 PM
Creation date
10/11/2021 12:18:18 PM
Metadata
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Template:
City Council Records
Also Known As (aka)
BAP C2X Group LLC / TGR Group LLC
Meeting Date
10/5/2021
Doc Type
Resolution
Signed Date
10/5/2021
Ord/Res - Year
2021
Ord/Res - Number
68
Property Address Number
1069__1071
Property Address Street Name
Courtesy
Subdivision Name
DELO Plaza
Original Hardcopy Storage
9C5
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ASSIGNMENT AND ASSUMPTION AGREEMENT <br />(Business Assistance Agreement — C2X Group LLC) <br />THIS ASSIGNMENT AND ASSUMPTION AGREEMENT (this "Agreement") is <br />made and entered into this 51h day of October , 20 21 , by and between C2X Group LLC, <br />a Colorado limited liability company ("Assignor") and TGR Group, LLC, a Colorado limited <br />liability company ("Assignee"). <br />WHEREAS, by Resolution No. 44, Series 2021, the City Council approved a Business <br />Assistance Agreement for Assignor, C2X Group LLC, dated as of July 13, 2021 (the <br />"Agreement"), to provide certain business assistance in connection with the Company's desire to <br />open a new restaurant concept (the "Project") at 1069/1071 Courtesy Road in Louisville, Colorado <br />(the "Project Location"); and <br />WHEREAS, Assignor now proposes to use a different entity—TGR Group, LLC—to <br />operate the business and apply for its liquor license at the Project Location than what was used for <br />the Agreement; and <br />WHEREAS, Assignor, therefore, desires to assign and delegate to Assignee all of the <br />rights and obligations of the Assignor under the Agreement, and the Assignee desires to accept <br />such assignment and assume such delegation, all upon the terms and conditions which are <br />hereinafter set forth; and <br />WHEREAS, pursuant to Section 15 of the Agreement, C2X Group LLC may not assign <br />any of the obligations, benefits or provisions of the Agreement in whole or in any part without the <br />express written authorization of the City Council of the City; and <br />WHEREAS, the City desires to authorize Assignor's assignment and delegation of the all <br />of its rights and obligations under the Agreement to Assignee. <br />NOW, THEREFORE, in consideration of the recitals, promises, covenants and <br />undertakings herein set forth, and other good and valuable consideration, which is hereby <br />acknowledged and receipted for, the parties hereto agree as follows: <br />1. Assignor hereby assigns to Assignee, and Assignee hereby accepts and assumes <br />from Assignor, all of the Assignor's rights, duties and obligations under the provisions of the <br />Agreement. <br />2. Nothing herein shall relieve Assignor of any obligations or liabilities accruing <br />under the Agreement prior to the effective date hereof. <br />3. The undersigned signatories represent and warrant that they have been duly <br />authorized to execute this Agreement and have full power and authority to bind the Assignor and <br />Assignee to the terms and conditions hereof. <br />1 <br />
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