In the Bft Guarantee, if a term is not defined within the Guarantee itself, where can its meaning be found?
Bft Franchise · 2025 FDDAnswer from 2025 FDD Document
TO FOLLOW]*
IN WITNESS WHEREOF, the parties have executed and delivered this Rider to be effective as of the effective date of the Multi-Unit Agreement.
BFT FRANCHISE SPV, LLC, a Delaware limited liability company [NAME OF DEVELOPER] Capacity:
RIDER TO THE BFT FRANCHISE SPV, LLC MULTI-UNIT AGREEMENT FOR USE IN MINNESOTA
| THIS RIDER (this "Rider") is made and entered into by and between | BFT FRANCHISE SPV, |
|---|---|
| LLC, a Delaware limited liability company with its principal business address at 17877 Von Karman Ave., | |
| Suite 100 Irvine, CA 92614 ("Franchisor"), and, | |
| whose principal business address is | ("Developer"). |
| 1. | dated |
| Background. Franchisor and Developer are parties to that certain Multi-Unit Agreement | |
| , 20 (the "Multi-Unit Agreement") that has been signed concurrently | |
| with the signing of this Rider. This Rider supersedes any inconsistent or conflicting provisions of the Multi | |
| Unit Agreement. |
Source: Item 17 — RENEWAL, TERMINATION, TRANSFER AND DISPUTE RESOLUTION (FDD pages 57–66)
What This Means (2025 FDD)
Based on the 2025 Bft Franchise Disclosure Document, specifically Item 17 which discusses riders to agreements, if a term is not defined within a specific rider such as a Guarantee, its meaning can be found in the corresponding agreement. For multi-unit agreements, undefined terms in the rider have the meanings defined in the Multi-Unit Agreement. For franchise agreements, undefined terms in the rider have the meanings defined in the Franchise Agreement.
This means that franchisees need to be familiar with both the rider and the main agreement to fully understand their rights and obligations. The rider modifies or supplements the main agreement, but it relies on the main agreement for definitions.
For a prospective Bft franchisee, this highlights the importance of carefully reviewing both the Franchise Agreement and any associated riders. Franchisees should pay close attention to how terms are defined and how the rider alters the original agreement. Understanding the interplay between these documents is crucial for a successful franchise relationship.