How is 'Acquisition' defined in the Best In Class Education Center franchise agreement?
Best_In_Class_Education_Center Franchise · 2025 FDDAnswer from 2025 FDD Document
- "Acquisition" means either: (a) a competitive or non-competitive company, franchise system, network or chain directly or indirectly acquiring us, whether in whole or in part, including by asset or stock purchase, change of control, merger, affiliation or otherwise; or (b) us, or our affiliate or parent, directly or indirectly acquiring another competitive or non-competitive company, franchise system, network or chain, whether in whole or in part, including by asset or stock purchase, change of control, merger, affiliation or otherwise.
Source: Item 23 — RECEIPT (FDD pages 47–204)
What This Means (2025 FDD)
According to the 2025 Best In Class Education Center Franchise Disclosure Document, the term 'Acquisition' is specifically defined within the franchise agreement. This definition is important because it outlines scenarios where the ownership or control of either Best In Class Education Center or another company changes, which could have implications for franchisees.
Specifically, 'Acquisition' is defined as either (a) a competitive or non-competitive entity directly or indirectly acquiring Best In Class Education Center, whether in whole or in part, through means such as asset or stock purchase, change of control, merger, or affiliation; or (b) Best In Class Education Center, or its affiliate or parent, directly or indirectly acquiring another competitive or non-competitive entity through similar means.
This definition clarifies that an acquisition can occur in two directions: either Best In Class Education Center is acquired by another entity, or Best In Class Education Center acquires another entity. Both scenarios are considered 'Acquisitions' under the terms of the franchise agreement. This is a fairly standard clause in franchise agreements, designed to address potential changes in the franchise system's structure and leadership.