What does the Apricot Lane amendment reflect regarding the understanding of the parties?
Apricot_Lane Franchise · 2025 FDDAnswer from 2025 FDD Document
Effect of Amendment. This Amendment reflects the entire understanding of the Parties with respect to the subject matter thereof. Except as amended by this Amendment, the Franchise Agreement shall remain in full force and effect in accordance with its terms.
Further Assurances. To facilitate the execution of this Amendment by geographically separated Parties, it may be executed in two or more counterparts, all of which shall constitute one agreement. The execution by one Party of any counterpart shall be sufficient execution by that Party whether or not the same counterpart has been executed by any other Party. This Amendment shall become effective when each Party has signed at least one counterpart. All facsimile or scanned executions shall be treated as originals for all purposes. The Parties shall do and cause to be done all such acts, matters and things and shall execute and deliver all such documents and instruments as shall be required to enable the Parties to perform their respective obligations under, and to give effect to the transactions contemplated by, this Amendment.
Source: Item 23 — RECEIPTS (FDD pages 51–222)
What This Means (2025 FDD)
According to the 2025 Apricot Lane FDD, the amendment to the franchise agreement reflects the entire understanding of the parties involved with respect to the subject matter of the amendment. This means that the amendment encompasses all agreed-upon terms and conditions related to the specific changes or additions it introduces to the original franchise agreement.
Specifically, the FDD excerpt indicates that the original Franchise Agreement remains in full effect, except for the specific points that are modified by the amendment. This ensures that all other aspects of the original agreement continue to be binding and enforceable. The amendment serves to clarify and update the agreement, reflecting the current understanding between Apricot Lane and the franchisee.
Furthermore, the amendment includes provisions for facilitating its execution, such as allowing for counterparts and treating facsimile or scanned executions as originals. It also requires the parties to perform all necessary actions and execute all necessary documents to give effect to the transactions contemplated by the amendment. This ensures that both Apricot Lane and the franchisee are committed to fulfilling their obligations under the amended agreement and that the changes are properly implemented and legally sound.