What is the 'Effective Date' as defined in the Batteries Plus Bulbs Franchise Agreement?
Batteries_Plus_Bulbs Franchise · 2025 FDDAnswer from 2025 FDD Document
- B. "Effective Date" means the date designated in the first paragraph of this Agreement; provided, however, that this Agreement will not become effective until the Agreement and all Exhibits (including the Guaranty and Assumption of Obligations) are signed by Franchisor, Franchisee and Principal Owners, as applicable.
Source: Item 22 — Contracts (FDD page 80)
What This Means (2025 FDD)
According to Batteries Plus Bulbs's 2025 Franchise Disclosure Document, the Effective Date is defined as the date designated in the first paragraph of the Franchise Agreement. However, the agreement does not become effective until the Franchise Agreement and all exhibits, including the Guaranty and Assumption of Obligations, are signed by Batteries Plus Bulbs, the franchisee, and the principal owners, if applicable.
For a prospective Batteries Plus Bulbs franchisee, this means that the franchise term officially begins on the date written in the agreement's first paragraph, but only after all required parties have signed the documents. This ensures that all parties are in agreement and legally bound before the franchise operations commence.
It is important for the franchisee to understand that the actual start date of their franchise term depends on the timely completion of all signatures on the agreement and its exhibits. This could impact the franchisee's timeline for opening their Batteries Plus Bulbs store and starting operations.