What date is the License Agreement between Packout Holdings and 1 800 Packouts dated?
1_800_Packouts Franchise · 2025 FDDAnswer from 2025 FDD Document
All of the Marks are licensed to us pursuant to a License Agreement with Packout Holdings dated as of July 2, 2015 (the "License Agreement"). In the License Agreement, Packout Holdings authorized us to use the Marks in connection with the offer, sale, and support of Franchised Businesses. The License Agreement does not contain any significant limitations on our right to use or license the Marks to you and is perpetual in duration and may be terminated unilaterally by either party only upon a material breach of the License Agreement. Upon termination of the License Agreement, we must immediately discontinue the use of the Marks and assign to Packout Holdings all of our franchise agreements licensing the use of the Marks, and Packout Holdings has agreed to assume all obligations under such agreements arising from and after their assignment.
Source: Item 13 — TRADEMARKS (FDD pages 44–45)
What This Means (2025 FDD)
According to 1 800 Packouts's 2025 Franchise Disclosure Document, the License Agreement between Packout Holdings and 1 800 Packouts is dated as of July 2, 2015. This agreement licenses the use of the Marks to 1 800 Packouts in connection with the offer, sale, and support of Franchised Businesses.
The License Agreement does not contain any significant limitations on 1 800 Packouts's right to use or license the Marks to franchisees. It is perpetual in duration, meaning it continues indefinitely, but can be terminated by either party if there is a material breach of the agreement.
Upon termination of the License Agreement, 1 800 Packouts must immediately stop using the Marks and assign all franchise agreements that license the use of the Marks to Packout Holdings. Packout Holdings has agreed to assume all obligations under these agreements from the date of assignment forward. This arrangement ensures that even if the License Agreement is terminated, franchisees will continue to have the right to use the Marks under the terms of their franchise agreements, now managed directly by Packout Holdings.