What is the title of the Bang Cookies agreement that may be signed in addition to the Franchise Agreement?
Bang_Cookies Franchise · 2024 FDDAnswer from 2024 FDD Document
their respective ownership interests in Franchisee. Defined terms shall have the meanings set forth in the Franchise Agreement between Franchisor and Franchisee.
| | Development Schedule | |---|---| | Development Period | | | Development Period 1: | | | [---------- TO ----------] [------] [------] | | | Development Period 2: | | | [---------- TO ----------] [------] [------] | | | Development Period 3: | | | [---------- TO ----------] [------] [------] | | | Development Period 4: | | | [---------- TO ----------] [------] [------] | | | Development Period 5: | | | [---------- TO ----------] [------] [------] | |
Franchise Agreement – Exhibit 1
Franchise Owner and Spouse Agreement and Guaranty
FRANCHISE OWNER AND SPOUSE AGREEMENT AND GUARANTY
This Franchise Owner and Spouse Agreement and Individual Guaranty (the "Agreement") is individually entered into by you as either an owner of ____________________________ (hereinafter referred to as "Franchisee"), Franchisee, or the spouse of the owner of franchisee and is given and signed by you in favor of Bang Cookies Franchise LLC, franchisor of the Bang Cookies franchise system and in favor of Bang Cookies Franchise LLC's successors and assigns, upon the terms and conditions set forth in this Agreement. In this Agreement Bang Cookies Franchise LLC is referred to as "us", "our" or "we", and each individual that signs this Agreement is referred to as "you".
Recitals and Representations
WHEREAS, you agree that we have developed a distinctive and proprietary system (the "System") for the establishment, development and operation of a Bang Cookies Shop, a cookie shop that bakes and sells cookies, baked goods and other products and services that the Franchisor authorizes (the "Approved Services and Products") under the Licensed Marks (defined below) (each, a "Bang Cookies Shop");
Source: Item 23 — RECEIPTS (FDD pages 56–245)
What This Means (2024 FDD)
According to Bang Cookies' 2024 Franchise Disclosure Document, franchisees may need to sign a 'Franchise Owner and Spouse Agreement and Guaranty' in addition to the standard Franchise Agreement. This additional agreement is entered into by the owner of the franchise, the franchisee, or the spouse of the owner. It is made in favor of Bang Cookies Franchise LLC, including its successors and assigns, and is subject to the terms and conditions outlined within the agreement.
The Franchise Owner and Spouse Agreement and Guaranty acknowledges that Bang Cookies has developed a unique system for operating Bang Cookies Shops, which involves baking and selling cookies, baked goods, and other approved products and services under licensed marks. The agreement also states that the franchisee has entered into a Franchise Agreement for the ownership, development, and operation of a Bang Cookies Shop.
Furthermore, Bang Cookies recommends that the franchisee thoroughly review the Franchise Agreement, the Franchise Owner and Spouse Agreement and Guaranty, and all related exhibits and schedules with a lawyer of their choosing. By signing this agreement, the owner and/or spouse agree to gain access to the Bang Cookies system and intellectual property, acknowledging their importance to the overall success of the franchise. They also agree to adhere to brand protection, non-competition, and other covenants and restrictions, as well as personally guarantee the financial and other obligations of the franchisee to Bang Cookies.