What is the 'Execution Date' referring to in the Brightstar Care Standard Resale Addendum?
Brightstar_Care Franchise · 2025 FDDAnswer from 2025 FDD Document
| This addendum (the "Addendum") to the BrightStar Franchising, LLC Agency Franchise Agreement is made and entered into as of (the "Execution Date") by and between BrightStar Franchising, LLC, an Illinois limited liability company with its principal place of business at 2275 Half Day Road, Suite 210, Bannockburn, IL 60015 ("we," "us," or "our"), and , with an address at (""you" or "your""). |
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Source: Item 22 — CONTRACTS (FDD pages 117–118)
What This Means (2025 FDD)
According to Brightstar Care's 2025 Franchise Disclosure Document, the Execution Date in the context of the Standard Resale Addendum refers to the date when the addendum to the BrightStar Franchising, LLC Agency Franchise Agreement is made and entered into. This date signifies the formal commencement of the agreement between BrightStar Franchising, LLC and the franchisee in the context of a resale.
In practical terms, the Execution Date is the day both BrightStar Franchising, LLC and the prospective franchisee legally commit to the terms outlined in the addendum. This is a critical date because it sets the stage for the subsequent steps in the resale process, such as the transfer of the agency and the effectiveness of the new franchise agreement. The agreement confirms that the franchisee is stepping into an existing Brightstar Care agency through a resale arrangement.
For a prospective Brightstar Care franchisee, understanding the Execution Date is essential as it marks the beginning of their contractual obligations and rights under the resale agreement. It is the point from which various timelines and conditions within the agreement are measured, such as the effective date of the new franchise agreement and any performance standards that may apply. Franchisees should ensure they fully understand all implications tied to this date before signing the addendum.