What is the definition of 'Agreement' in the Camp Margaritaville franchise agreement, and how can it be modified?
Camp_Margaritaville Franchise · 2025 FDDAnswer from 2025 FDD Document
- "Agreement" shall mean this Franchise Agreement, including all exhibits and schedules hereto, as originally executed and as amended, modified, supplemented, or restated from time to time;
Source: Item 23 — RECEIPTS (FDD pages 72–406)
What This Means (2025 FDD)
According to Camp Margaritaville's 2025 Franchise Disclosure Document, the 'Agreement' refers to the Franchise Agreement itself, including all exhibits and schedules attached to it. This agreement is considered as it was originally executed.
Importantly, the definition states that the Franchise Agreement can be amended, modified, supplemented, or restated over time. This implies that the terms and conditions initially agreed upon are not necessarily fixed for the entire duration of the franchise term. Changes can be made to the agreement as the relationship between Camp Margaritaville and the franchisee evolves.
For a prospective Camp Margaritaville franchisee, this means understanding that the initial agreement is the foundation of the franchise relationship, but it is subject to change. It is crucial to carefully review any proposed amendments or modifications to understand their impact on the franchisee's rights and obligations. Franchisees should seek legal counsel when significant changes are proposed to ensure their interests are protected.