According to the Multi-Unit Addendum, who is considered "we" or "us" in the agreement with Auntie Annes?
Auntie_Annes Franchise · 2024 FDDAnswer from 2024 FDD Document
| This Multi-Unit Addendum (the "MU Addendum") is signed as of |
|---|
| between Auntie Anne's Franchisor SPV LLC ("we" or "us") and «Z1_First_Name», a |
| «Z1_State_of_Formation» |
| «Z1_Entity_Type»«Z2_First_Name»«Z2_Last_Name»«Z3_First_Name»«Z3_Last_Name»«Z4_ |
| First_Name»«Z4_Last_Name»«Z5_First_Name»«Z5_Last_Name» ("you"). |
Source: Item 22 — CONTRACTS (FDD page 106)
What This Means (2024 FDD)
According to Auntie Anne's 2024 Franchise Disclosure Document, in the context of the Multi-Unit Addendum, "we" or "us" refers to Auntie Anne's Franchisor SPV LLC. This is the entity that is entering into the agreement with the prospective franchisee for the establishment of multiple Auntie Anne's locations. The "you" in the agreement refers to the franchisee.
This distinction is important because it clarifies the roles and responsibilities of each party within the legal framework of the Multi-Unit Addendum. Auntie Anne's Franchisor SPV LLC, as "we" or "us", is the entity granting the rights and imposing the obligations related to the franchise. The franchisee, as "you", is the party receiving those rights and assuming those obligations.
Prospective franchisees should carefully note this definition, as it establishes the legal identity of the franchisor in the context of the Multi-Unit Addendum. Understanding which entity is legally responsible for the obligations outlined in the agreement is crucial for ensuring compliance and protecting their investment. This clarity helps to avoid confusion and ensures that both parties are aware of their respective roles and responsibilities throughout the duration of the franchise agreement.