What fees can Advanced Mobile Iv And Amiv recover from me for a material breach of the agreement?
Advanced_Mobile_Iv_And_Amiv Franchise · 2023 FDDAnswer from 2023 FDD Document
d indemnify these companies from any damage or loss because they follow our instructions.
31 – ADVANCED MOBILE IV FRANCHISE AGREEMENT
- D. Make reasonable modifications to any retained business to reduce your identification as a part of our franchise system. These modifications will include but will not be limited to removal of vehicle wraps and other reasonable alterations to eliminate any possibility of confusion between the Franchise and any other Advanced Mobile IV business.
- E. Pay to us within seven days all Royalty Fees, Marketing Fees, and other sums you owe. These sums will include all damages, costs and expenses, including reasonable attorneys fees and collection costs, we incur because of your breach. These sums will include all costs and expenses, including reasonable attorney fees, we incur in obtaining injunctive, appellate, or other relief to enforce the provisions of this Agreement.
Termination or expiration of this Agreement will not prejudice to any other rights or remedies that we have in law or in equity, including, without limitation, the right to recover benefit of the bargain damages, including lost revenue for the duration of the term of this Agreement.
- F. Abide by all provisions of the restriction upon communication of Confidential Information set forth above and the post-termination Covenant Not to Compete set forth below. You will immediately return to us all of our Confidential Information you have received, including any items that embody the Confidential Information. You acknowledge that you have no continuing ownership interest in the Confidential Information.
- G. At our option, do some or all of the following:
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- Remove all Franchise-related equipment and inventory from the Franchise;
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- Sell the equipment and inventory to us, at fair market value for equipment and furnishings and at your invoice cost for inventory less a 10% restocking charge. We will not be liable for payment to you for intangibles, including, without limitation, goodwill;
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- G. At our option, do some or all of the following:
Source: Item 23 — RECEIPTS (FDD pages 54–202)
What This Means (2023 FDD)
According to the 2023 Advanced Mobile Iv And Amiv Franchise Disclosure Document, if you materially breach the franchise agreement, Advanced Mobile Iv And Amiv can recover several types of fees and costs from you. Within seven days of the breach, you must pay all outstanding Royalty Fees, Marketing Fees, and any other sums you owe. These sums also include all damages, costs, and expenses, including reasonable attorney fees and collection costs, that Advanced Mobile Iv And Amiv incurs because of your breach. This also extends to costs and expenses, including reasonable attorney fees, that Advanced Mobile Iv And Amiv incurs to obtain injunctive, appellate, or other relief to enforce the provisions of the agreement.
Termination or expiration of the agreement does not limit Advanced Mobile Iv And Amiv's rights or remedies, including the right to recover benefit of the bargain damages, such as lost revenue for the duration of the agreement's term. Advanced Mobile Iv And Amiv may also employ legal counsel or incur other expenses to collect or enforce your obligations, or to defend against any claim, demand, action, or proceeding due to your failure to perform your obligations. If legal action is filed and establishes your breach, Advanced Mobile Iv And Amiv can recover the amount of their reasonable attorney fees and all other expenses incurred in collecting or enforcing that obligation or in defending against the claim.
Furthermore, if you violate any material provision of any other franchise or similar agreement with Advanced Mobile Iv And Amiv, that breach will be considered a breach of the current agreement. In such cases, Advanced Mobile Iv And Amiv may terminate or otherwise enforce both the current agreement and the other agreements. If Advanced Mobile Iv And Amiv limits or shuts down your access to forms, software, websites, or limits your continued operation of the franchise due to a breach, you may incur additional costs related to the disruption of your business operations.
In essence, a material breach of the Advanced Mobile Iv And Amiv franchise agreement can lead to significant financial liabilities for the franchisee, covering not only outstanding fees and damages but also legal costs and potential lost revenue for Advanced Mobile Iv And Amiv. Prospective franchisees should carefully review the terms of the franchise agreement and ensure they understand their obligations to avoid such breaches and the associated financial consequences.