What is the deadline for completing the sale to a third-party purchaser after Bumble Roofing delivers the Notice of Intent?
Bumble_Roofing Franchise · 2025 FDDAnswer from 2025 FDD Document
If Franchisor declines to exercise its rights under this Section within the 15 or 60 day period described above, as applicable, Franchisee may thereafter, sell or dispose of the Business to any third party in the event of a sale under Section 16.1(a) or to the third party identified in the Purchase Offer in the event of a sale under Section 16.1(b), but not at a lower price nor on more favorable terms than set forth in the Purchase Offer, if any, or the Notice of Intent and subject to the prior written permission of Franchisor and satisfaction of the other conditions to assignment set forth in Section 15.
If the sale to such third-party purchaser is not completed within 90 days after Franchisor delivers the Notice of Intent to Franchisee, Franchisor shall again have the right of first refusal herein provided.
Source: Item 22 — CONTRACTS (FDD page 53)
What This Means (2025 FDD)
According to Bumble Roofing's 2025 Franchise Disclosure Document, if Bumble Roofing declines to exercise its right of first refusal to purchase the franchise, the franchisee has 90 days to complete the sale to a third party. This 90-day period begins after Bumble Roofing delivers its Notice of Intent, indicating it will not purchase the franchise.
However, this ability to sell to a third party is conditional. The sale must not be at a lower price or on more favorable terms than those outlined in the original Purchase Offer or the Notice of Intent from Bumble Roofing. Additionally, the franchisee must obtain prior written permission from Bumble Roofing and satisfy all other conditions for assignment as detailed in Section 15 of the franchise agreement.
If the sale to the third-party purchaser is not completed within this 90-day window, Bumble Roofing regains its right of first refusal. This means that if the franchisee fails to close the deal within the specified timeframe, the process essentially resets, and Bumble Roofing has another opportunity to purchase the franchise under the same terms and conditions.