Who is bound by the All Team General Release as a Releasor?
All_Team Franchise · 2025 FDDAnswer from 2025 FDD Document
any liability under any state franchise law which governs this Release.
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- Releasor hereby understands and agrees that this General Release shall extend to and be binding upon any and all of Releasor's past, present and future officers, directors, owners, employees, representatives, agents, trustees, successors, affiliates and assigns, and their respective insurers and underwriters. If more than one party shall execute this General Release, the term "Releasor" shall mean and refer to each of the parties executing this General Release, and all such parties shall be bound by its terms, jointly and severally.
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- Releasor hereby understands and agrees that this General Release shall extend to and inure to the benefit of Franchisor and any and all of Franchisor's past, present and future officers, directors, owners, employees, representatives, agents, trustees, successors, affiliates and assigns, and their respective insurers and underwriters.
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- Releasor hereby understands and agrees that this General Release supersedes any prior agreement, oral or written, with respect to its subject matter. Releasor understands and agrees that no representations, warranties, agreements or covenants have been made by Franchisor with respect to this General Release, other than those expressly set forth herein, and that in executing this General Release, Releasor is not relying upon any representations, warranties, agreements or covenants not expressly set forth in this General Release.
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- This General Release may not be changed except in a writing signed by the person(s) against whose interest such change shall operate. This General Release and all acts and transaction under it shall in all respects be interpreted, enforced and governed by the internal laws of the state in which Franchisor's principal place of business is located without regard to principles of conflicts of law
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- If any provision of this General Release is found or declared invalid or unenforceable by any arbitrator, court or other competent authority having jurisdiction, such finding or declaration shall not invalidate any other provision hereof and this General Release shall thereafter continue in full force and effect except that such invalid or unenforceable provision, and (if necessary) other provisions hereof, shall be reformed by such arbitrator, court or other competent authority so as to effect insofar as is practicable, the intention of the parties set forth in this General Release, provided that if such arbitrator, court or other competent authority is unable or unwilling to effect such reformation, the invalid or unenforceable provision shall be deemed deleted to the same extent as if it had never existed.
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- Releasor hereby certifies that Releasor has read all of this General Release and fully understands all of the same, and that Releasor has executed this General Release only after having received full legal advice and disclosure as to Releasor's rights from legal counsel of Releasor's choice.
IN WITNESS WHEREOF, each Releasor party hereto has executed this General Release effective as the day and year first above written.
RELEASOR: By: Name: Title:
ITEM 23. RECEIPT
See Exhibit K.
Source: Item 22 — CONTRACTS (FDD pages 33–34)
What This Means (2025 FDD)
According to the 2025 All Team Franchise Disclosure Document, the term "Releasor" in the General Release refers to each party that signs the release. If multiple parties sign, each one is bound by the terms, both individually and collectively. This means that each signatory is responsible for the entire obligation, not just a portion of it. The General Release extends to and benefits All Team, including its past, present, and future officers, directors, owners, employees, representatives, agents, trustees, successors, affiliates, assigns, and their respective insurers and underwriters.
This General Release encompasses a comprehensive discharge of All Team from any and all claims, demands, damages, liabilities, and costs related to the franchise agreement or the franchisor-franchisee relationship. This includes known and unknown claims that the Releasor has or may have had against All Team. However, if the General Release is connected to a renewal, assignment, or transfer of the Franchise Agreement, the release does not apply to any liability under state franchise law governing the release.
The General Release also binds any and all of the Releasor's past, present, and future officers, directors, owners, employees, representatives, agents, trustees, successors, affiliates, and assigns, along with their respective insurers and underwriters. The Releasor acknowledges having read and understood the General Release and has executed it after receiving full legal advice and disclosure of their rights from their legal counsel.
In the context of transferring a franchise, All Team requires the franchisee, including all officers, directors, shareholders, and guarantors, to execute a general release as a condition of the transfer. This release must be in a form approved by All Team and covers any claims against All Team, its affiliates, and their respective officers, directors, employees, and agents, to the extent permitted by law. This ensures that All Team is protected from potential future claims arising from the franchisee or related parties after the transfer is completed.