What is the effective date of the 1-800-GOT-JUNK? General Security Agreement?
1_800_Got_Junk Franchise · 2025 FDDAnswer from 2025 FDD Document
15.2
Unless otherwise defined in this Agreement, all capitalized terms shall have the meaning ascribed to them in the applicable Uniform Commercial Code.
4923-7432-4805.1
ARTICLE XVI - AMENDMENT
16.1
Any amendment or modification of this Agreement shall be effective only if in writing and signed by the Secured Party and the Debtor.
ARTICLE XVII - GENERAL
17.1
The invalidity or unenforceability of any provisions of this Agreement shall not affect the validity or enforceability of any other provision.
17.2
This Agreement shall be interpreted in accordance with the laws of the state where the collateral is located.
ARTICLE XVIII - RECEIPT OF COPY
18.1
The Debtor hereby acknowledges receipt of a copy of this Agreement.
ARTICLE XIX – SUCCESSORS
19.1
This Agreement benefits the Secured Party, its successors and assigns and binds the Debtor and its heirs, executors, personal representatives, successors and assigns.
IN WITNESS WHEREOF the Debtor has executed this Security Agreement this ____ day of , 20__.
[DEBTOR]
Per: _____________________________
(authorized signatory)
4923-7432-4805.1
SCHEDULE A
This is Schedule A to a General Security Agreement
Between
1-800-GOT-JUNK?
LLC, a Delaware limited liability company and
[DEBTOR]
Debtor Information:
Where Debtor is an Individual:
1.
Name on your birth certificate or, if adopted, your name by adoption:
Full First Name
Full Second Name
Surname
2.
DBA Name(s), Trade Name(s) or Alias(es):
3.
Date and place of birth:
Date of Birth
Place of Birth
4.
Principal Residence:
Where Debtor in an Entity:
Type of Entity
Jurisdiction of Formation
States Where Authorized to Carry on Business
4923-7432-4805.1
Source: Item 22 — Contracts (FDD page 24)
What This Means (2025 FDD)
According to the 2025 1-800-GOT-JUNK? Franchise Disclosure Document, the General Security Agreement's effective date is not explicitly defined within the excerpts provided. However, the document includes a section in Article XVI that states any amendment or modification of the agreement is only effective if it is in writing and signed by both the Secured Party and the Debtor. Additionally, Article XVIII states that the Debtor acknowledges receipt of a copy of the agreement.
Schedule A and Schedule B are referenced as being part of the General Security Agreement between 1-800-GOT-JUNK? LLC and the Debtor, providing spaces for Debtor information such as name, address, and date of birth if the debtor is an individual. If the debtor is an entity, the schedules request the type of entity, jurisdiction of formation, and states where the entity is authorized to carry on business. These schedules serve to identify the parties involved in the agreement.
To determine the specific effective date, a prospective 1-800-GOT-JUNK? franchisee should review the General Security Agreement within the Franchise Agreement and consult with 1-800-GOT-JUNK? or legal counsel. Understanding the conditions under which the agreement becomes effective is crucial for assessing the obligations and rights it establishes.