Who are the 'Released Parties' from claims in the Body20 franchise agreement release?
Body20 Franchise · 2025 FDDAnswer from 2025 FDD Document
Franchisee and Transferee (on behalf of themselves and their parents, subsidiaries, and affiliates and their respective past and present officers, directors, shareholders, managers, members, agents, and employees, in their corporate and individual capacities), and Guarantors (on behalf of themselves and their respective heirs, representatives, successors and assigns) (collectively, the "Releasors") freely and without any influence forever release (i) Franchisor, (ii) Franchisor's past and present officers, directors, shareholders, managers, members, agents, and employees, in their corporate and individual capacities, and (iii) Franchisor's parent, subsidiaries, and affiliates and their respective past and present officers, directors, shareholders, managers, members, agents, and employees, in their corporate and individual capacities (collectively, the "Released Parties"), from any and all claims, debts, demands, liabilities, suits, judgments, and causes of action of whatever kind or nature, whether known or unknown, vested or contingent, suspected or unsuspected (collectively, "Claims"), that any Releasor ever owned or held, now owns or holds, or may in the future own or hold, including, without limitation, claims arising under federal, state, and local laws, rules, and ordinances and claims arising out of, or relating to, the Franchise Agreement and all other agreements between any Releasor and any Released Party arising out of, or relating to any act, omission or event occurring on or before the date of this Release, unless prohibited by applicable law.
Source: Item 23 — RECEIPT (FDD pages 74–251)
What This Means (2025 FDD)
According to Body20's 2025 Franchise Disclosure Document, the "Released Parties" in the franchise agreement release are comprehensively defined. These parties are protected from various claims by the franchisee, transferee, and guarantors (collectively known as "Releasors").
The Released Parties specifically include (i) Body20 Franchisor, (ii) Body20's past and present officers, directors, shareholders, managers, members, agents, and employees, in both their corporate and individual capacities, and (iii) Body20's parent, subsidiaries, and affiliates, along with their respective past and present officers, directors, shareholders, managers, members, agents, and employees, also in their corporate and individual capacities.
This release covers any and all claims, debts, demands, liabilities, suits, judgments, and causes of action, regardless of their nature (known or unknown, vested or contingent, suspected or unsuspected). It encompasses claims arising under federal, state, and local laws, rules, and ordinances, as well as claims related to the Franchise Agreement and other agreements between the Releasors and any Released Party. The release applies to any act, omission, or event occurring on or before the date of the release, unless prohibited by applicable law.