What entities are included in the definition of 'Business Entity' in the Amorino agreement?
Amorino Franchise · 2025 FDDAnswer from 2025 FDD Document
If you are a Business Entity:
- (1) You shall provide to Amorino concurrently with the execution of this Agreement true and accurate copies of resolutions authorizing the execution of this Agreement, and your current Organizational Documents. You agree to provide Amorino with amendments to the foregoing within 10 days of the effective date of such amendments.
- (2) You shall provide such information as Amorino may from time to time request concerning each person or Business Entity who may have any direct or indirect financial interest in your Business Entity.
Source: Item 22 — CONTRACTS (FDD pages 80–81)
What This Means (2025 FDD)
According to Amorino's 2025 Franchise Disclosure Document, if a franchisee is a 'Business Entity,' they must provide Amorino with resolutions authorizing the execution of the agreement and their current Organizational Documents. Amendments to these documents must be provided within 10 days of their effective date.
Furthermore, the franchisee must supply any information Amorino requests regarding any person or Business Entity with a direct or indirect financial interest in the franchisee's Business Entity. This allows Amorino to maintain transparency and control over the ownership and financial structure of its franchisees.
This requirement ensures that Amorino has access to critical information about the franchisee's structure, financial stakeholders, and operational changes. This enables Amorino to assess compliance with the franchise agreement and to make informed decisions regarding the franchise relationship.