In the Bor Restoration franchise agreement, who is considered the franchisee?
Bor_Restoration Franchise · 2024 FDDAnswer from 2024 FDD Document
| © 2024 All rights reserved BOR Franchising, LLC Gen 3-30-24 | ||
| 73 |
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EXHIBIT 5 COLLATERAL ASSIGNMENT OF CONTACT AND ELECTRONIC INFORMATION
| © 2024 All rights reserved BOR Franchising, LLC Gen 3-30-24 | 74 | ||
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COLLATERAL ASSIGNMENT OF CONTACT AND ELECTRONIC INFORMATION
| 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 |
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FRANCHISOR FRANCHISEE BOR FRANCHISING, LLC ________________________________ by: ______________________________ by: ________________________________ Member its: ________________________________ date: ______________________________ date: ________________________________ IF FRANCHISEE IS/ARE INDIVIDUAL(S) Signature ___________________________ Signature: _____________________ Name: ___________________________ Name: _____________________
Date: __________________________ Date: _____________________
© 2024 All rights reserved BOR Franchising, LLC Gen 3-30-24
____________ ___________ 76
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EXHIBIT 6 CONFIDENTIALITY AGREEMENT
| © 2024 All rights reserved BOR Franchising, LLC Gen 3-30-24 | 77 | ||
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| This document was downloaded from franchimp.com. All the information on this website is published in good faith and for general information purpose only. FranChimp.com does not make any warranties about the completeness, reliability, and | |||
| accuracy of this information. Any action you take upon the information you find on this website (FranChimp.com), is strictly at your own risk. We will not be liable for any losses and/or damages in connection with the use of our website. |
Source: Item 23 — Receipts (FDD pages 40–202)
What This Means (2024 FDD)
According to the 2024 Bor Restoration Franchise Disclosure Document, the franchisee is identified as the party entering into a franchise agreement with BOR Franchising, LLC (the Franchisor). This is evident in the context of both the Collateral Assignment of Contact and Electronic Information Agreement and the Guaranty of Franchisee's Obligations.
The Collateral Assignment of Contact and Electronic Information Agreement outlines the terms under which the franchisee agrees to assign rights to contact and electronic information to Bor Restoration upon the expiration, transfer, or termination of the Franchise Agreement. This agreement is made between BOR Franchising, LLC, as the Franchisor, and the franchisee, establishing the franchisee's role in relation to the franchisor.
Similarly, the Guaranty of Franchisee's Obligations agreement involves a guarantor who agrees to ensure the franchisee's payment and performance obligations under the Franchise Agreement. This agreement is made between Bor Restoration as the Franchisor, the franchisee, and the guarantor(s), further clarifying the franchisee's position as the party responsible for fulfilling the terms of the franchise agreement. The guarantor(s) agree to guarantee the franchisee's obligations to Bor Restoration for the term of the Franchise Agreement.