Where is the definition of 'Agreement' found within the Aerus FDD?
Aerus Franchise · 2025 FDDAnswer from 2025 FDD Document
elivered this Software License as of the date set forth with their signatures below to be effective as of the day of LICENSOR: AERUS FRANCHISING, LLC, a Delaware limited liability company Date of Execution: LICENSEE: , a Date of Execution:
EXHIBIT III
FORM OF CONSIGNED PRODUCTS SECURITY AGREEMENT
THIS CONSIGNED PRODUCTS SECURITY AGREEMENT (this "Agreement"), is being executed simultaneously with that certain Franchise Agreement (the "Franchise Agreement") dated of even date herewith (the "Effective Date") by and between Aerus Franchising, LLC, a Delaware limited liability company ("Company"), having offices at 14841 Dallas Parkway, Suite 500, Dallas, Texas 75254 and the individual or entity executing this Agreement as Consignee ("Consignee"). All capitalized terms used herein that are not otherwise defined have the meanings given such terms in the Franchise Agreement.
Source: Item 23 — Receipts (FDD pages 74–305)
What This Means (2025 FDD)
According to Aerus's 2025 Franchise Disclosure Document, the term "Agreement" is defined within the context of the Consigned Products Security Agreement and the Security Agreement. Specifically, the Consigned Products Security Agreement, referred to as "this Agreement", is executed alongside the Franchise Agreement. Similarly, the Security Agreement is also referred to as "this Agreement" and is established between Aerus Franchising, LLC, as the Secured Party, and the Purchaser, also known as the Debtor. Both agreements clarify that capitalized terms not explicitly defined within them carry the meanings assigned in the overarching Franchise Agreement. This indicates that the primary definitions and governing terms are found within the Franchise Agreement itself, with these security agreements serving as supplements that incorporate and rely upon those established definitions.
For a prospective Aerus franchisee, this means that understanding the core Franchise Agreement is crucial, as it lays the groundwork for interpreting all related documents. The Consigned Products Security Agreement and the Security Agreement are designed to work in conjunction with the Franchise Agreement, and franchisees must be aware of how these documents interact. The cross-referencing of terms between the agreements highlights the importance of reviewing all documents thoroughly to fully grasp the obligations and rights involved.
It is also important to note that the definition of 'Agreement' can vary depending on the specific context. In addition to the security agreements, the term 'Agreement' also appears in relation to the Franchise Agreement itself, as well as in the context of software licensing. Therefore, franchisees should pay close attention to the specific agreement being referenced to ensure they understand the relevant terms and conditions. Consulting with a legal professional can help clarify any ambiguities and ensure a comprehensive understanding of all contractual obligations.