factual

What is the 'Notification Date' in the context of All County's option to purchase the business?

All_County Franchise · 2025 FDD

Answer from 2025 FDD Document

er, employee in a management or sales capacity, consultant, representative or agent or in any other capacity in any Competitive Business operating or providing services within your Territory or within 50 miles of any point on the outer perimeter of your Territory. You are prohibited from selling or transferring any of the accounts or clients of the Business to anyone except to another All County® business that has been approved in writing by us or to us or our designees.

  • 23.5. Commencement by Order. If it becomes necessary to enforce the Covenant Not to Compete by court order, we will seek to enjoin competition for two years from the date of issuance of the order. You and your owners expressly acknowledge that you possess skills and abilities of a general nature and have other opportunities for exploiting such skills. Consequently, enforcement of the covenants made in this Article will not deprive you of your personal goodwill or ability to earn a living.

23.6. Our Rights to Purchase the Business.

  • 23.6.1. Exercise of Option. Upon termination or expiration of this Agreement in accordance with its terms and conditions or your termination of this Agreement without cause, we have the option, exercisable by giving written notice to you within sixty (60) days from the date of such termination or expiration, to purchase the Business from you, including the leasehold rights to the Location, free and clear of all liens, restrictions or encumbrances. (The date on which we notify you whether or not we are exercising our option is referred to in this Agreement as the "Notification Date.") We have the unrestricted right to assign this option to purchase the Business. We will be entitled to all customary warranties and representations in connection with our asset purchase, including, without limitation, representations and warranties as to ownership and condition of and title to assets; liens and encumbrances on assets; validity of contracts and agreements; and liabilities affecting the assets, contingent or otherwise.
  • 23.6.2. Leasehold Rights. You agree, at our election, to assign your leasehold interest in the Location to us or, to enter into a sublease for the remainder of the lease term on the same terms (including renewal options) as the prime lease.
  • 23.6.3. Purchase Price. The purchase price for the Business will be its fair market value, determined in a manner consistent with reasonable depreciation of the Business' equipment, signs, inventory, materials and supplies, provided that the Business will be valued as an independent business and its value will not include any value for the Franchise or any rights granted by this Agreement; the Marks;

Source: Item 23 — Receipts (FDD pages 43–157)

What This Means (2025 FDD)

According to All County's 2025 Franchise Disclosure Document, the Notification Date is the date All County notifies the franchisee whether or not it is exercising its option to purchase the business. This option becomes available to All County upon termination or expiration of the Franchise Agreement, or if the franchisee terminates the agreement without cause.

All County has sixty (60) days from the date of termination or expiration to provide written notice to the franchisee regarding their decision to purchase the business. If All County decides to purchase the business, the purchase includes the leasehold rights to the location, free and clear of all liens, restrictions, or encumbrances. All County also has the unrestricted right to assign this option to purchase the business to another party.

If All County does not exercise its option to purchase the business, the franchisee has specific obligations to fulfill within thirty (30) days after the Notification Date. These obligations include delivering all signs, marketing materials, and other items containing All County's marks, and making alterations to distinguish the business from its former appearance and from other All County businesses. The franchisee must also notify the telephone company and directory publishers of the termination of their right to use any telephone numbers or listings associated with All County's marks.

Disclaimer: This information is extracted from the 2025 Franchise Disclosure Document and is provided for research purposes only. It does not constitute legal or financial advice. Consult with a franchise attorney before making any investment decisions.