What is the deadline for the closing of the purchase of the Bambu shoppe after Bambu exercises its purchase option?
Bambu Franchise · 2025 FDDAnswer from 2025 FDD Document
The closing for the purchase of the Bambū shoppe will take place no later than 60 days after written notice of Bambu's exercise of its option is given to Franchisee.
Bambu has the unrestricted right to assign this option to purchase at any time prior to such closing.
Bambu will pay the purchase price in full at the closing, or, at its option, in 24 equal consecutive monthly installments with interest at a rate equal to the prime lending rate as of the closing at Bambu's primary bank.
Franchisee must sign all documents of transfer as are necessary for purchase of the Bambū shoppe by Bambu, which documents shall include all customary representations and warranties from Franchisee as to ownership, condition of and title to, the assets of the Bambū shoppe being transferred.
All assets must be transferred free and clear of all liens and encumbrances, with all sales and transfer taxes paid by Franchisee.
Franchisee and its owners further agree to sign general releases, in a form satisfactory to Bambu, of any and all claims against Bambu and its shareholders, member, managers, officers, directors, employees, agents, successors, and assigns; and
Source: Item 23 — Receipts (FDD pages 52–209)
What This Means (2025 FDD)
According to Bambu's 2025 Franchise Disclosure Document, the closing date for the purchase of the Bambu shoppe must occur no later than 60 days after Bambu provides the franchisee with written notice that it is exercising its purchase option.
Bambu retains the right to assign this purchase option to another party at any point before the closing. At the closing, Bambu will pay the full purchase price, or it may choose to pay in 24 equal monthly installments with interest. The interest rate will be the prime lending rate at Bambu's primary bank at the time of closing.
The franchisee is required to sign all necessary transfer documents for the purchase of the Bambu shoppe. These documents will include standard representations and warranties regarding ownership, condition, and title to the shoppe's assets. The franchisee is responsible for ensuring that all assets are transferred without any liens or encumbrances and for paying all applicable sales and transfer taxes. Additionally, the franchisee and its owners must sign general releases, in a form satisfactory to Bambu, releasing any claims against Bambu and its affiliates.