What representation does the Camp Margaritaville franchisee make regarding the assignment of claims released in the agreement?
Camp_Margaritaville Franchise · 2025 FDDAnswer from 2025 FDD Document
- (d) all statements Franchisee has made and all materials (including ownership information and descriptions of Franchisee's and/or its Affiliates' ownership structure(s)) it has given Franchisor in acquiring the rights under this Agreement are accurate and complete and that Franchisee has made no misrepresentations or material omissions in obtaining those rights; and
- (e) Franchisee is duly organized, validly existing and in good standing under the laws of the jurisdiction of its formation, and Franchisee's execution and delivery of this Agreement and performance of its obligations hereunder (i) have been duly authorized by all necessary company action, (ii) do not and will not violate or result in a breach or default under any Applicable Law or any agreement to which Franchisee is a party or by which it is bound, and (iii) do not require the consent of any third party that has not been obtained.
Source: Item 23 — RECEIPTS (FDD pages 72–406)
What This Means (2025 FDD)
According to the 2025 Camp Margaritaville Franchise Disclosure Document, the franchisee makes several representations regarding the acquisition of rights under the agreement. Specifically, the franchisee affirms that all statements made and materials provided to Camp Margaritaville in acquiring the franchise rights are accurate and complete. This includes ownership information and descriptions of the franchisee's and its affiliates' ownership structures.
Furthermore, the franchisee represents that there have been no misrepresentations or material omissions in obtaining these rights. This is a critical assurance to Camp Margaritaville, ensuring that the franchisor has been provided with truthful and comprehensive information during the franchise application and approval process. Any inaccuracies or omissions could potentially lead to legal or operational issues down the line.
Additionally, the franchisee confirms that they are duly organized, validly existing, and in good standing under the laws of their jurisdiction. They also assert that their execution and delivery of the agreement, along with their obligations, have been properly authorized and do not violate any applicable laws or agreements. Finally, the franchisee confirms that all necessary third-party consents have been obtained, ensuring the validity and enforceability of the franchise agreement.