Who are considered the 'Releasors' in the release agreement for an Angry Chickz franchise?
Angry_Chickz Franchise · 2025 FDDAnswer from 2025 FDD Document
If Franchisee is an entity, Franchisee (on behalf of itself and its parents, subsidiaries and affiliates and their respective past and present officers, directors, shareholders, agents and employees, in their corporate and individual capacities) and Guarantors (on behalf of themselves and their respective heirs, representatives, successors and assigns) or, if Franchisee is an individual, Franchisee (on behalf of himself/herself and his/her heirs, representatives, successors and assigns) (collectively, "Releasors") freely and without any influence forever release ANGRY CHICKZ, its parent, subsidiaries and affiliates and their respective past and present officers, directors, shareholders, agents and employees, in their corporate and individual capacities (collectively, "Releasees"), with respect to any and all claims, demands, liabilities and causes of action of whatever kind or nature, whether known or unknown, vested or contingent, suspected or unsuspected (collectively, "Claims"), which any Releasor ever owned or held, now owns or holds or may in the future own or hold, including, without limitation, claims arising under federal, state and local laws, rules and ordinances and claims arising out of, or relating to, the Development Agreement and/or Franchise Agreement and all other agreements between any Releasor and any Release arising out of, or relating to any act, omission or event occurring on or before the date of this Release, unless prohibited by applicable law.
Source: Item 23 — RECEIPTS (FDD pages 54–260)
What This Means (2025 FDD)
According to Angry Chickz's 2025 Franchise Disclosure Document, the 'Releasors' in the release agreement are defined based on whether the franchisee is an entity or an individual. If the franchisee is an entity, the 'Releasors' include the franchisee itself (on behalf of its parents, subsidiaries, and affiliates, along with their respective past and present officers, directors, shareholders, agents, and employees) and any guarantors (on behalf of themselves and their respective heirs, representatives, successors, and assigns). If the franchisee is an individual, the 'Releasors' include the franchisee (on behalf of himself/herself and his/her heirs, representatives, successors, and assigns).
In essence, the release agreement aims to comprehensively cover all parties associated with the franchisee who might have potential claims against Angry Chickz. This ensures that any claims, known or unknown, arising from the franchise relationship are waived upon signing the release. The agreement explicitly includes not only the franchisee but also related entities and individuals, such as officers, directors, and guarantors, to provide a broad and encompassing release of liability for Angry Chickz.
This definition is important for a prospective franchisee because it clarifies who is giving up their rights to make claims against Angry Chickz. Before signing the release, franchisees should fully understand the implications for themselves and any related parties, especially if they operate under a corporate entity or have personal guarantors. It is advisable to seek legal counsel to ensure a complete understanding of the rights being waived and the potential future impact of the release.