What governing documents of the Developer are required to be provided to the Franchisor under the Aplus Development Agreement?

According to Aplus's 2024 Franchise Disclosure Document, when establishing the Developer entity, you must provide true and accurate copies of the Developer's charter and governing documents to Aplus. These documents include the Articles of Incorporation, Bylaws, Operating Agreement, Partnership Agreement, and resolutions authorizing the execution of the Development Agreement. Additionally, any amendments to these documents must also be provided to Aplus concurrently with the execution of the agreement.

Furthermore, Aplus may request additional information concerning all persons who have any direct or indirect financial interest in the franchisee entity. This ensures Aplus has a comprehensive understanding of the Developer's structure and ownership.

If an individual Developer transfers their interest to a business entity within the first 12 months, they must provide Aplus with a copy of the Business Entity's formation and governing documents, along with a certificate of good standing from the relevant jurisdiction. Similarly, if the Developer is a Business Entity and its Owners transfer their ownership interests, Attachment C to the Development Agreement must be amended to reflect the new ownership. These stipulations allow Aplus to maintain oversight and control over the franchise development process and ensure compliance with the Development Agreement.