According to the 1-800-GOT-JUNK? FDD, what information is listed regarding share ownership of the franchisee?
1_800_Got_Junk Franchise · 2025 FDDAnswer from 2025 FDD Document
4/22 SCHEDULE D This is Schedule D to a Franchise Agreement between 1-800-GOT-JUNK? LLC, a Delaware limited liability company and
SHARE OWNERSHIP Listed below are names, mailing addresses and legal or beneficial ownership interests of each person holding any shares, units or other form of ownership interest in Franchisee Shareholder, Partner or Member Individual Name and Address Percentage of Ownership Interest and Class of Shares/Units/Other Interest
EXHIBIT F Guarantee, Postponement and Covenants 4934-9833-2741.1 GUARANTEE, POSTPONEMENT AND COVENANTS THIS GUARANTEE, POSTPONEMENT AND COVENANTS AGREEMENT (this “Agreement”) is effective as of _________________, 20 (the “Effective Date”). BETWEEN: ________________________________, a [single/married] person, of
(the “Guarantor”) AND: 1-800-GOT-JUNK? LLC, a Delaware limited liability company having its head office at 887 Great Northern Way, Suite 301, Vancouver, BC, V5T 4T5, Canada (the “Franchisor”) WHEREAS: A.
Source: Item 22 — Contracts (FDD page 24)
What This Means (2025 FDD)
According to the 2025 1-800-GOT-JUNK? Franchise Disclosure Document, Schedule D of the Franchise Agreement requires franchisees to disclose details regarding share ownership. Specifically, franchisees must provide the names, mailing addresses, and legal or beneficial ownership interests for each person holding any shares, units, or other form of ownership interest in the franchisee entity. This includes specifying the percentage of ownership interest and the class of shares, units, or other interest held by each individual.
This information is crucial for 1-800-GOT-JUNK? to maintain transparency and control over its franchise network. By understanding who owns and controls the franchisee entities, 1-800-GOT-JUNK? can assess potential conflicts of interest, ensure compliance with franchise agreement terms, and make informed decisions regarding franchise renewals or transfers.
Furthermore, the 1-800-GOT-JUNK? FDD states that all shares of capital stock, unit certificates, or similar ownership indications must include a legend indicating that the securities are subject to transfer restrictions outlined in the franchise agreement. This measure ensures that any potential buyer is aware of these restrictions, maintaining the franchisor's control over who can become a franchisee within the 1-800-GOT-JUNK? system. Franchisees must accurately represent this information in Schedule D.