What happens to Attachment E to the Belocal Franchise Agreement?
Belocal Franchise · 2025 FDDAnswer from 2025 FDD Document
- b. Attachment E to the Franchise Agreement is hereby deleted in its entirety and replaced with the Amended Attachment E attached hereto.
-
- Representations and Warranties. Assignee hereby represents and warrants that the ownership interests in Assignee are accurately and completely described in the table set forth in Amended
Attachment E attached hereto, and that each person listed in that table will sign the Principals' Undertaking attached hereto as Schedule 1.
Source: Item 22 — CONTRACTS (FDD page 71)
What This Means (2025 FDD)
According to Belocal's 2025 Franchise Disclosure Document, Attachment E to the Franchise Agreement is deleted in its entirety and replaced with an amended version when the agreement is transferred to a new franchisee. Specifically, this occurs when the current franchisee (Assignor) assigns their rights and obligations to a new franchisee (Assignee).
This replacement ensures that the new franchisee's ownership interests and management information are accurately reflected in the agreement. The amended Attachment E includes a table describing the ownership interests in the Assignee company. Each person listed in that table is required to sign the Principals' Undertaking, which is included as Schedule 1 to the agreement.
For a prospective Belocal franchisee, this means that if they are taking over an existing franchise, they will need to provide updated information about their ownership interests and management structure. This information will be documented in the new Attachment E, and all principals involved will need to sign the Principals' Undertaking, indicating their commitment to the terms of the franchise agreement.