Who is responsible for maintaining the confidentiality of the Potential Transaction involving Camp Margaritaville?
Camp_Margaritaville Franchise · 2025 FDDAnswer from 2025 FDD Document
This Confidentiality and Nondisclosure Agreement (this "Agreement"), dated as of, 20, is entered into by and between Margaritaville Enterprises, LLC, a Delaware limited liability company, its subsidiaries, affiliates, successors and assigns, including without limitation, Margaritaville Hotels & Resorts, LLC, Compass Margaritaville, LLC and Margaritaville RV Resorts, LLC ("Margaritaville"), and, a, its subsidiaries, affiliates, successors and assigns ("Company"). Margaritaville and Company may individually be referred to as a "Party" or collectively as the "Parties". Margaritaville and Company are entering into discussions concerning a possible transaction (the "Potential Transaction"). As part of the Parties' discussions regarding the Potential Transaction, it has been necessary and may continue to be necessary for a Party to disclose to another Party, or provide another Party with access to, certain proprietary and/or confidential business information.
The Party disclosing or providing access to certain proprietary and/or confidential business information (which may be Margaritaville or Company) shall hereinafter be referred to as the "Disclosing Party".
The Party being provided access to or receiving such proprietary and/or confidential business information (which may be Margaritaville or Company) shall be referred to hereinafter as the "Receiving Party".
In consideration of the mutual covenants and agreements herein contained, the Parties desire to enter into this Agreement and for it to govern the access, disclosure and use of Confidential Information, as subsequently defined herein.
Source: Item 23 — RECEIPTS (FDD pages 72–406)
What This Means (2025 FDD)
According to Camp Margaritaville's 2025 Franchise Disclosure Document, both Margaritaville and the Company are responsible for maintaining the confidentiality of information pertaining to a Potential Transaction. The document outlines a Confidentiality and Nondisclosure Agreement between Margaritaville Enterprises, LLC, including its subsidiaries, and another company, referred to as "Company."
The agreement defines the "Disclosing Party" as the party that shares confidential business information, and the "Receiving Party" as the party that receives this information. Either Margaritaville or the Company can be the Disclosing Party or the Receiving Party, depending on the specific exchange of information. Both parties agree to be bound by the Confidentiality and Nondisclosure Agreement, indicating that both bear responsibility for protecting the confidentiality of the information shared during discussions about the Potential Transaction.
This mutual responsibility is a standard practice in business negotiations to ensure that sensitive information is protected. Prospective Camp Margaritaville franchisees should understand that any discussions or shared information related to potential transactions are subject to this agreement, and they are expected to uphold the confidentiality of any information they receive.