According to the Aw Franchise Agreement, what is the meaning of 'Owners'?
Aw Franchise · 2025 FDDAnswer from 2025 FDD Document
In this Agreement, we refer to Rayyan Pizza Franchise LLC as "we", "us" or the "Company." We refer to you as "you" or "Franchisee." If you are a corporation, limited liability company or a partnership, you will notice certain provisions that are applicable to your shareholders, members or partners on whose business skill, financial capability and personal character we are relying in entering into this Agreement. Those individuals will be referred to in this Agreement as "Owners."
Source: Item 22 — CONTRACTS (FDD pages 39–40)
What This Means (2025 FDD)
According to Aw's 2025 Franchise Disclosure Document, the term 'Owners' refers to the shareholders, members, or partners of a franchisee entity (corporation, limited liability company, or partnership). Aw relies on the business skill, financial capability, and personal character of these individuals when entering into the Franchise Agreement.
This definition is important because certain provisions within the Franchise Agreement apply specifically to these 'Owners.' For example, 'Owners' must comply with anti-terrorism laws, and their compliance is a condition for Aw's approval of any assignment of the franchise.
Prospective Aw franchisees operating as a corporation, LLC, or partnership should carefully review the sections of the Franchise Agreement that pertain to 'Owners' to fully understand their obligations and potential liabilities. These individuals may be required to execute a Guaranty and Assumption of Obligations, as detailed in Exhibit 2 of the Franchise Agreement.