What is the 'Agreement' referenced in the sample Waiver and Release of Claims for Beverly Anns Cookie?
Beverly_Anns_Cookie Franchise · 2025 FDDAnswer from 2025 FDD Document
RLY ANN'S COOKIES FRANCHISE**
SAMPLE WAIVER AND RELEASE OF CLAIMS
This Waiver and Release of Claims ("Release") is made as of 7/17/2025 by and among [Entity Name], d/b/a ["dba name"], a(n) [state] [entity name] ("Franchisee"), each of the undersigned individuals holding an ownership interest in Franchisee ("Owner(s),") and (collectively with Franchisee, "Releasors") Mobile Cookie Company, LLC, a Delaware limited liability company ("Franchisor," and together with Releasors, each, a "Party" and together, the "Parties").
WHEREAS, Franchisor and Franchisee have entered into a Franchise Agreement ("Agreement") pursuant to which Franchisee was granted the right to own and operate a Beverly Ann's Business;
WHEREAS, (Franchisee has notified Franchisor of its desire to transfer the Agreement and all rights related thereto, or an ownership interest in Franchisee, to a transferee/enter into a successor franchise agreement/amend the Agreement) or (the Agreement is being terminated/or indicate other reason for the requirement of this waiver and release), and Franchisor has consented to such (transfer/successor franchise agreement/amendment/termination/other reason);
Source: Item 22 — CONTRACTS (FDD page 57)
What This Means (2025 FDD)
According to Beverly Anns Cookie's 2025 Franchise Disclosure Document, the "Agreement" referenced in the Sample Waiver and Release of Claims refers to the Franchise Agreement between the franchisor, Mobile Cookie Company, LLC, and the franchisee. This agreement grants the franchisee the right to own and operate a Beverly Ann's Business.
The Sample Waiver and Release of Claims is used when there are changes to the franchise agreement or the franchisee's business. These changes include transferring the agreement, entering into a successor franchise agreement, amending the agreement, or terminating the agreement. The franchisor's consent is required for these actions.
This waiver ensures that all parties release each other from potential liabilities or claims related to the changes. Prospective franchisees should understand the conditions under which this waiver might be required and the implications of releasing claims against the franchisor. It is important to carefully review the franchise agreement and any related documents with legal counsel to fully understand your rights and obligations.