Will I have any equity or continuing interest in the Bor Restoration Franchise Agreement?
Bor_Restoration Franchise · 2024 FDDAnswer from 2024 FDD Document
| This Collateral Assignment of Contact and Electronic Information (Agreement) is made as of the date that it is signed by all Parties (Effective Date) between BOR Franchising, LLC (Franchisor) and (Franchisee). Any capitalized term not |
|---|
| defined herein has the meaning set forth in the Franchise Agreement. |
| RECITALS |
| On, 20, Franchisor and Franchisee executed a "Franchise |
| Agreement." As part of the Franchise Agreement, the Franchisee agreed that upon the expiration, Transfer, |
| or termination of the Franchise Agreement, the Franchisor would have the right, title, |
| and |
| interest in and to |
| all contact and electronic information relating to the Franchisee's Business |
| and to ensure |
| that the Franchisor |
| that it will have such rights, the Parties have agreed to enter into this Agreement. |
| NOW THEREFORE, for and in consideration of the covenants found in the Franchise Agreement |
| and for other good and valuable consideration, |
| the adequacy of which is admitted by all Parties |
| hereto, it is |
| agreed as follows: |
| COVENANTS |
| 1. |
| Franchisee acknowledges that, as between Franchisor, |
| Franchisee, the public, |
| and any other |
| Person, the Franchisor has the sole rights to and interest in all telephone, telecopy or facsimile machine |
| numbers, directory listings, URL's web page identifiers, blog, vlogs, email addresses, and social network |
| addresses (including Twitter and Facebook), that are associated with any Mark |
| and assigns all of the same |
| to Franchisor under this Agreement. |
| 2. |
| To the extent necessary to enforce this Agreement, Franchisee appoints Franchisor and any |
| of its officers, as Franchisee's attorney-in-fact |
| (coupled with an interest,) |
| to direct the telephone company, |
| all telephone directory publishers, any electronic transfer agency, any URL or webpage host, and any other |
| electronic business, company, transfer agent, host, webmaster, and the like to transfer to the Franchisor all |
| telephone, facsimile machine numbers, and directory listings, and all electronic listings, |
| web pages, social |
| network pages or identities (including Twitter |
| and FaceBook), URL's, blogs, vlogs, "handles", email |
| addresses and the like that are owned by Franchisee or that relate to the Franchisee's Franchised Business, |
| and any party named herein may accept such direction under this Agreement |
| as conclusive of Franchisor's |
| exclusive rights in and to such information, site, URL, electronic media, telephone numbers, directory |
| listings and the like and Franchisor's authority to direct their transfer. To |
| the extent that any Person |
| identified above or the law of the state in which such Person is located requires special language to enforce |
| the Franchisor's rights as the attorney-in-fact or requires a special form, Franchisee will execute such |
| additional form or will add such language to this Agreement. |
| 3. |
| This Agreement is only effective at such time as the Franchise Agreement expires, is |
| transferred, or is terminated and then only if the Franchisee fails or refuses to make the necessary |
| assignments as contemplated by this Agreement. |
| 4. |
| The Recitals are incorporated into this Agreement by this reference. |
| Done as of the Effective Date. |
| © 2024 All rights reserved BOR Franchising, LLC Gen 3-30-24 |
| 75 |
| Initials |
| Initials |
Source: Item 23 — Receipts (FDD pages 40–202)
What This Means (2024 FDD)
According to the 2024 Bor Restoration Franchise Disclosure Document, the franchisee agrees that upon the expiration, transfer, or termination of the Franchise Agreement, Bor Restoration will have the right, title, and interest in and to all contact and electronic information relating to the franchisee's business.
This includes telephone, telecopy or facsimile machine numbers, directory listings, URLs, web page identifiers, blogs, vlogs, email addresses, and social network addresses (including Twitter and Facebook) that are associated with any mark. The franchisee assigns all of the same to Bor Restoration under this agreement.
To enforce this agreement, the franchisee appoints Bor Restoration and any of its officers, as franchisee's attorney-in-fact to direct the telephone company, all telephone directory publishers, any electronic transfer agency, any URL or webpage host, and any other electronic business, company, transfer agent, host, webmaster, and the like to transfer to Bor Restoration all telephone, facsimile machine numbers, and directory listings, and all electronic listings, web pages, social network pages or identities (including Twitter and FaceBook), URLs, blogs, vlogs, "handles", email addresses and the like that are owned by franchisee or that relate to the franchisee's franchised business.
This agreement is only effective at such time as the Franchise Agreement expires, is transferred, or is terminated and then only if the franchisee fails or refuses to make the necessary assignments as contemplated by this agreement.