What is the purpose of the rider between Bft Franchise SPV, LLC and the Developer?
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. Terms not otherwise defined in this Rider have the meanings as defined in the Multi-Unit | |
| Agreement. | |
| This Rider is annexed to and forms part of the Multi-Unit Agreement. |
Source: Item 17 — RENEWAL, TERMINATION, TRANSFER AND DISPUTE RESOLUTION (FDD pages 57–66)
What This Means (2025 FDD)
According to Bft's 2025 Franchise Disclosure Document, the purpose of the rider is to amend the Multi-Unit Agreement between Bft Franchise SPV, LLC, the franchisor, and the developer. The rider is signed concurrently with the Multi-Unit Agreement and is annexed to and forms part of it.
The rider serves to address specific legal and regulatory requirements or to clarify certain terms of the Multi-Unit Agreement based on the developer's location or where the studios will be developed. For example, if the developer is a resident of or the offer to sell is made in the State of North Dakota, the rider is included. Similarly, there are riders for Maryland, New York, Minnesota and Washington.
Essentially, these riders modify the original Multi-Unit Agreement to comply with specific state laws or regulations, ensuring that the franchise agreement is enforceable and protects the interests of both the franchisor and the developer within that jurisdiction. The riders address potential conflicts or inconsistencies between the standard Multi-Unit Agreement and state-specific requirements.