Where can I find the definition of 'Buffett Agreement' within the Camp Margaritaville franchise agreement?
Camp_Margaritaville Franchise · 2025 FDDAnswer from 2025 FDD Document
Section 8.01 Franchisor's Rights to Intellectual Property. Margaritaville Enterprises, LLC is a limited liability company formed pursuant to the laws of the State of Delaware ("Licensor"), which is the owner of the Margaritaville Enterprises IP Rights. Licensor has the exclusive right to use and sublicense to others the right to use the Buffett IP Rights (including for the purposes set forth in this Agreement), pursuant to that certain license agreement between Licensor and Jimmy Buffett dated as of February 27, 2014, a copy of which is attached as Exhibit H (the "Buffett Agreement"). Licensor has sub-licensed both the Buffett IP Rights and the Margaritaville Enterprises IP Rights (collectively the "Camp Margaritaville Intellectual Property") to Franchisor pursuant to the License Agreement dated as of January 14, 2019, a copy of which is attached hereto as Exhibit I (the "License Agreement") for the purpose of franchising Camp Margaritaville Resorts, maintaining the Camp Margaritaville System and System Standards, and for other purposes as set forth in that License Agreement.
Source: Item 23 — RECEIPTS (FDD pages 72–406)
What This Means (2025 FDD)
According to the 2025 Camp Margaritaville FDD, the 'Buffett Agreement' is defined in Section 8.01 of the franchise agreement, under Article VIII, which covers intellectual property. Specifically, the Buffett Agreement is identified as that certain license agreement between Margaritaville Enterprises, LLC (Licensor) and Jimmy Buffett dated as of February 27, 2014. A copy of this agreement is attached as Exhibit H to the franchise agreement.
This agreement grants Licensor the right to use and sublicense the Buffett IP Rights, which are then sub-licensed to the Franchisor for the purpose of franchising Camp Margaritaville Resorts. This is a crucial element for a franchisee to understand, as it outlines the legal foundation for Camp Margaritaville's rights to use intellectual property associated with Jimmy Buffett.
Prospective franchisees should review Exhibit H to fully understand the terms and conditions of the Buffett Agreement, including any limitations or obligations related to the use of the Buffett IP Rights. Understanding the relationship between Margaritaville Enterprises, Jimmy Buffett, and the franchisee is essential for ensuring compliance and maximizing the benefits of the Camp Margaritaville franchise.