Does the Beverly Anns Cookie agreement allow for execution in counterparts?
Beverly_Anns_Cookie Franchise · 2025 FDDAnswer from 2025 FDD Document
. When used in this Agreement, the term "Affiliates" has the meaning as given in Rule 144 under the Securities Act of 1933.
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- Miscellaneous. This Agreement may not be changed or modified except in a writing signed by all of the parties hereto. This Agreement may be executed in any number of counterparts, each of which shall be deemed to be an original, and all of which together shall constitute one and the same document. This Agreement shall be binding upon and inure to the benefit of the parties and their respective successors and assigns.
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- Governing Law.
Source: Item 22 — CONTRACTS (FDD page 57)
What This Means (2025 FDD)
According to the 2025 Beverly Anns Cookie Franchise Disclosure Document, the agreement allows for execution in counterparts. This means that the agreement can be signed in multiple identical copies, which together constitute a single, binding agreement. Each signed copy is considered an original.
For a prospective Beverly Anns Cookie franchisee, this provides flexibility during the signing process. It allows different parties to sign different copies of the same document, which can be especially useful when the parties are geographically separated. This eliminates the need to send a single document around for each party to sign, potentially speeding up the execution of the agreement.
This clause is part of the "Miscellaneous" section of the agreement, which also states that the agreement cannot be changed or modified except in writing signed by all parties. It also specifies that the agreement is binding upon and benefits the parties and their respective successors and assigns, and that the agreement is governed by the laws of Kentucky.