What is the dependency for the execution of the Addendum to the Franchise Agreement for Beef O Bradys?
Beef_O_Bradys Franchise · 2025 FDDAnswer from 2025 FDD Document
ADDENDUM TO FRANCHISE AGREEMENT FOR FRANCHISEE OBTAINING SBA ASSISTED FINANCING
20 (the "Effective Date") between FSC FRANCHISE CO., LLC, a Delaware limited liability company ("we," "us," "our" or "Franchisor") with its principal office at 5660 W.
Cypress Street, Suite A, Tampa, Florida 33607, and , whose principal place of business is ("you," "your" or "Franchisee") (collectively the "Parties").
RECITALS WHEREAS, the Parties entered into that certain Franchise Agreement dated , 20 (the "Franchise Agreement"), pursuant to which you agreed, among other things, to own and operate a Beef 'O' Brady's® Family Sports Pub (the "Family Sports Pub") at an Approved Location.
WHEREAS, the Franchise Agreement is in full force and effect and, as of the Effective Date of this Addendum, Franchisor has sent no official notice of default to Franchisee under the Franchise Agreement that remains uncured on the date hereof.
Source: Item 23 — RECEIPTS. (FDD pages 66–330)
What This Means (2025 FDD)
According to the 2025 Beef O Bradys FDD, the Addendum to the Franchise Agreement for franchisees obtaining SBA assisted financing is dependent on the franchisee obtaining SBA (Small Business Administration) assisted financing. The addendum is made effective on a specific date between FSC FRANCHISE CO., LLC (the Franchisor) and the franchisee.
The recitals section of the addendum indicates that the parties have already entered into a Franchise Agreement, under which the franchisee agreed to own and operate a Beef 'O' Brady's Family Sports Pub at an approved location. The addendum explicitly states that the Franchise Agreement is in full force and effect as of the addendum's effective date. Furthermore, Beef O Bradys confirms that they have not sent any official notice of default to the franchisee that remains uncured on the date the addendum becomes effective.
In simpler terms, this addendum is only relevant if a franchisee is using SBA financing to open their Beef O Bradys franchise. It modifies the original Franchise Agreement to account for the specific requirements and conditions that come with SBA loans, ensuring that both the franchisee and franchisor are in compliance with those requirements. The agreement is contingent on the original franchise agreement being active and without notice of default.