What is the exact name of the registrant, as specified in its charter, for Benihana?
Benihana Franchise · 2024 FDDAnswer from 2024 FDD Document
This Guaranty is incorporated and made a part of a Franchise Agreement between FRANCHISEE and Benihana National Corp., a Delaware corporation, whose principal office address is 21500 Biscayne Boulevard, Suite 900, Aventura, Florida 33180 (hereinafter referred to as "FRANCHISOR") on the date specified above, and it will be attached to the Franchise Agreement.
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- Acknowledgments. GUARANTOR acknowledges and agrees that FRANCHISOR has entered into the Franchise Agreement with FRANCHISEE solely on the condition that each owner of FRANCHISEE be personally obligated and jointly and severally liable with FRANCHISEE (and with each other owner of FRANCHISEE) for the performance of each and every obligation of FRANCHISEE (and its owners) under the Franchise Agreement, any amendments or modifications to the Franchise Agreement, any extensions or renewals of the Franchise Agreement, and under each and every agreement ancillary to the Franchise Agreement, including any lease, that has been or hereafter may be entered by FRANCHISEE with FRANCHISOR (all of the aforementioned agreements are collectively referred to as the "BENIHANA Agreements").
Source: Item 22 — CONTRACTS (FDD pages 73–74)
What This Means (2024 FDD)
According to Benihana's 2024 Franchise Disclosure Document, the registrant's exact name, as specified in its charter, is Benihana National Corp., a Delaware corporation. This information is crucial for prospective franchisees as it identifies the legal entity they will be contracting with when entering into a franchise agreement. Knowing the precise legal name and corporate structure helps franchisees understand who is responsible for upholding the franchisor's obligations.
Furthermore, the document mentions that Benihana National Corp. is a wholly-owned subsidiary of The ONE Group Hospitality, Inc., also a Delaware corporation. This indicates the parent company ultimately backing the franchise. The ONE Group Hospitality, Inc. provides a guarantee of performance to ensure Benihana National Corp. fulfills its obligations under the franchise agreement and franchise registrations.
This guarantee is significant for franchisees because it provides an additional layer of security. Should Benihana National Corp. fail to meet its obligations, The ONE Group Hospitality, Inc. is legally bound to step in and assume those responsibilities. This arrangement offers franchisees some protection and assurance regarding the stability and commitment of the Benihana franchise system.