What article of the Byrider Franchise Agreement discusses 'Term and Successor Franchise Agreements'?
Byrider Franchise · 2025 FDDAnswer from 2025 FDD Document
ARTICLE V
TERM AND SUCCESSOR FRANCHISE AGREEMENTS
5.1 Term. The Term of this Agreement shall be seven (7) years (hereinafter "Term") commencing on the date this Agreement is executed.
5.2 Right to Obtain Successor Franchise Agreements. Upon the expiration of this Agreement, if the Franchisee has met certain conditions contained in Section 5.2 and subject to the terms and conditions of this Section 5.2, then the Franchisee shall have the right to obtain three (3) additional successor franchises ("Successor Franchise Agreement") to operate Franchisee's Business for an additional five (5) year term.
The qualifications and conditions for the successor franchise term are described below:
- A.
Source: Item 23 — Receipts (FDD pages 88–335)
What This Means (2025 FDD)
According to the 2025 Byrider Franchise Disclosure Document, Article V of the franchise agreement outlines the terms and conditions regarding the term of the agreement and the possibility of obtaining successor franchise agreements. Specifically, Section 5.1 states that the term of the agreement is seven years, commencing on the date the agreement is executed.
Section 5.2 details the franchisee's right to obtain successor franchise agreements. Upon the expiration of the initial agreement, a franchisee who has met certain conditions has the right to obtain up to three additional successor franchises, each for a five-year term.
The conditions for obtaining a successor franchise include the franchisee's right to occupy the business location for a period ending no sooner than the expiration of the successor franchise agreement. Further conditions for obtaining a successor franchise are described in subsequent subsections of the agreement.