For All Team, what is the effect of the provisions of this agreement on the Funding Agreement and the Guaranty Agreement?
All_Team Franchise · 2025 FDDAnswer from 2025 FDD Document
nt, or approval will be effective on the earlier of its receipt, if hand delivered, to the recipient, or the third day after it (or the written confirmation of it) is postmarked for dispatch by first class, postage prepaid, certified or registered United States mail with return receipt requested (whether or not the return receipt is received by the sender).
- (f) The Funding Agreement, Guaranty Agreement, this Agreement and any other documents executed in connection herewith or therewith express the entire understanding of the parties with respect to the transactions contemplated hereby. Neither this Agreement nor any term hereof may be changed, waived, discharged or terminated except in a writing signed by the party against whom enforcement is sought. The provisions of this Agreement shall be in addition to those of the Funding Agreement and the Guaranty Agreement, and each and every other document delivered pursuant hereto and thereto, all of which shall be construed as complimentary to each other.
Source: Item 22 — CONTRACTS (FDD pages 33–34)
What This Means (2025 FDD)
According to All Team's 2025 Franchise Disclosure Document, the provisions outlined in the franchise agreement are designed to complement both the Funding Agreement and the Guaranty Agreement. The franchise agreement, the Funding Agreement, the Guaranty Agreement, and any other related documents represent the complete understanding between the parties regarding the transactions they cover. This means that all these documents should be read together to fully understand the obligations and rights of each party.
Specifically, the FDD states that the provisions of the franchise agreement are in addition to those of the Funding Agreement and the Guaranty Agreement. All these documents are to be construed as complementary to each other. This indicates that the agreements work in conjunction, with each document adding to the overall understanding and obligations of the parties involved, rather than conflicting with each other.
Furthermore, the FDD specifies that no termination of the franchise agreement, the Funding Agreement, or the Guaranty Agreement will affect the powers, obligations, duties, rights, and liabilities of the Secured Party or Debtor relating to any transaction or event occurring before the termination, the collateral, and any undertakings, agreements, covenants, warranties, and representations of the Debtor contained in these agreements. This ensures that even if the franchise agreement is terminated, the financial obligations and security interests established in the Funding Agreement and Guaranty Agreement remain in effect for past transactions and the provided collateral. This provides All Team with continued protection and recourse even after the franchise relationship ends.