What is the definition of 'Agreement Date' in the context of the Anago Unit Franchise Agreement?
Anago Franchise · 2025 FDDAnswer from 2025 FDD Document
t a notice to us indicating that you intend to sell your Unit Franchise. Following Our receipt of such notice, you will have at least 180 days (if necessary, we will extend the Term of this Agreement in order to provide you at least 180 days to sell Your Unit Franchise, unless We have grounds to otherwise terminate this Agreement) to sell Your Unit Franchise, subject to Our right of first refusal and our right to approve of any transferee. This transfer must be in compliance with the provisions of Subsection 10.2(e) and all the other applicable provisions of this Agreement.
ARTICLE 17 - DEFINITIONS
SECTION 17.1 DEFINITIONS.
As used in this Agreement, the Exhibits attached to this Agreement and all other documents signed incidental to this Agreement and any Exhibits to those documents, the following terms have the following meanings:
- "Account" means a Client or Current Client.
- "Account Transfer Fee" means the fee we will assess if We transfer an Account from You to another Anago Unit Franchise as and under the circumstances described in Section 3.1(h) of this Agreement.
- "Administration Fee" means the fee described in Subsection 3.1(c).
- "Advertising Contributions" means the payments described in Subsection 3.1(d).
- "Advance Payment Fee" means if We advance collected funds, but the funds are not yet payable to You, You will pay a processing fee of $25. If We loan You uncollected funds, You will pay a processing fee of $25 plus interest at the rate of 18% per annum until fully paid.
- "Affiliate" / "Business Affiliate" means a company related to Us, for example, a parent corporation, brother/sister corporation or subsidiary corporation.
- "Agreement" means this Anago Unit Franchise Agreement, as it may be amended, supplemented or otherwise modified by an Agreement in writing signed by You and Us under Section 18
Source: Item 23 — RECEIPTS (FDD pages 62–298)
What This Means (2025 FDD)
According to Anago's 2025 Franchise Disclosure Document, the 'Agreement Date' is defined as the date of signing the Anago Unit Franchise Agreement. This date is significant because it marks the commencement of the franchise relationship and is used to determine various timelines and obligations outlined in the agreement.
For a prospective Anago franchisee, understanding the Agreement Date is crucial. It serves as the starting point for calculating the term of the agreement, which, according to Section 16.1, is five years unless terminated earlier. The Agreement Date also triggers certain obligations and deadlines that the franchisee must adhere to, such as those related to training, advertising, and payment schedules.
Furthermore, the Agreement Date is relevant to Section 6.4, which discusses prior information and confidentiality. Any confidential information received before the Agreement Date is considered proprietary to Anago, and the franchisee agrees that such information was previously unknown to them except through Anago's disclosure. This underscores the importance of carefully reviewing all provided information before signing the agreement, as the franchisee is bound by these terms once the agreement is executed.