Under the Aerus Schedule of Equipment Collateral, does the described equipment include future acquisitions?
Aerus Franchise · 2025 FDDAnswer from 2025 FDD Document
SCHEDULE OF EQUIPMENT COLLATERAL
All present and future right, title and interest of Debtor in and to all Equipment now owned or hereafter acquired. The above-described Equipment includes, without limitation, all attachments, renewals, replacements, additions, accessories, accessions, increases, parts, substitutes therefore and proceeds of the above and all guaranties, claims, rights, remedies and privileges relating to any of the foregoing.
Source: Item 23 — Receipts (FDD pages 74–305)
What This Means (2025 FDD)
According to Aerus's 2025 Franchise Disclosure Document, the Schedule of Equipment Collateral includes both currently owned and future acquired equipment. This means that any equipment the franchisee owns now or purchases later during the franchise agreement can be considered collateral. This collateral also extends to any attachments, renewals, replacements, additions, accessories, accessions, increases, parts, and substitutes related to the equipment, as well as proceeds from these items.
This has significant implications for a prospective Aerus franchisee. It means that Aerus has a security interest in a broad range of the franchisee's equipment assets, not just what they start with. This security interest protects Aerus in case the franchisee defaults on their obligations. The franchisee should be aware that this collateral extends to replacements and additions, so upgrades or new components also fall under this agreement.
For a potential Aerus franchisee, understanding the full scope of the collateral is crucial. It is important to carefully consider the financial implications and obligations associated with this security interest. Franchisees should seek legal counsel to fully understand the terms and conditions of the Schedule of Equipment Collateral and how it affects their rights and responsibilities.