According to the Browns Chicken sublease, what is the duration of the term in years?
Browns_Chicken Franchise · 2025 FDDAnswer from 2025 FDD Document
The term of this Sublease (hereinafter the "Term") shall commence on , 20 (hereinafter the "Commencement Date"), and shall continue for a period of () years, terminating on , 20 , which date is at least one (1) day prior to the Commencement Date and each anniversary thereof. expiration of the Lease, unless sooner terminated in accordance with the terms hereof.
Source: Item 22 — Contracts (FDD page 43)
What This Means (2025 FDD)
According to the 2025 Browns Chicken Franchise Disclosure Document, the term of the sublease is determined by a period of years, which is left blank in the agreement. The sublease term begins on a specified date in 20, and continues for a period of years, ending on a date in 20 that is at least one day prior to the commencement date and each anniversary. The term continues until the expiration of the lease, unless terminated earlier according to the sublease terms.
The Browns Chicken franchisee and sublessor agree to lease the premises under the terms and conditions outlined in the sublease. The franchisee, as sublessee, is responsible for paying a minimum rental amount, referred to as "Base Rent", annually to the sublessor. This Base Rent is payable in twelve equal monthly installments, due in advance on the first day of each calendar month during the term, without any deductions or set-offs.
Prospective Browns Chicken franchisees should carefully review the lease agreement and consult with legal counsel to fully understand the terms and conditions, including the duration of the sublease, renewal options, and any potential obligations or restrictions. Since the number of years is left blank, it is important for the franchisee to confirm this information before signing the agreement.