What is the reference name for the effective date within the 360 Painting Franchise Agreement?
360_Painting Franchise · 2025 FDDAnswer from 2025 FDD Document
THIS FRANCHISE AGREEMENT (the "Agreement") is made and entered into as of the date set forth on Exhibit C-1 attached hereto (the "Effective Date") (Exhibit C-1 and all other exhibits hereto are incorporated herein by this reference) by and between 360 Painting, LLC, a limited liability company organized under the laws of Delaware with its principal place of business at the address set forth on Exhibit C-1 hereto ("Franchisor"), and the person or entity identified on Exhibit C-1 as the franchisee ("Franchisee").
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 56)
What This Means (2025 FDD)
According to 360 Painting's 2025 Franchise Disclosure Document, the reference name for the effective date within the 360 Painting Franchise Agreement is the "Effective Date". The franchise agreement is established as of the date indicated on Exhibit C-1, which is referred to as the "Effective Date".
This date is significant because it marks the commencement of the franchise relationship and the start of the franchisee's obligations and rights under the agreement. Exhibit C-1, which contains the Effective Date, is incorporated into the franchise agreement by reference, making it a crucial component of the overall contract.
Prospective 360 Painting franchisees should pay close attention to this date, as it triggers various timelines and obligations, such as the completion of initial training and the commencement of business operations. Failing to meet these deadlines could potentially lead to termination of the agreement by 360 Painting.