What is the name of the agreement that the Successor Addendum amends for Canopy Lawn Care?
Canopy_Lawn_Care Franchise · 2025 FDDAnswer from 2025 FDD Document
-------------------------------------|----------------| | By: | By: | | Its: | Its: GUARANTORS: , Individually |
ATTACHMENT G TO FRANCHISE AGREEMENT
CANOPY FRANCHISE CORPORATION SUCCESSOR ADDENDUM TO SUCCESSOR FRANCHISE AGREEMENT
| This Successor Addendum ("Successor Addendum") to the Successor Franchise Agreement is made and entered into this day of, 20, by and between CANOPY FRANCHISE CORPORATION ("Franchisor") and ("Franchisee"). | |
|---|---|
| BACKGROUND | |
| 1. 20 ("Franchise | Franchisor and Franchisee entered into a Franchise Agreement dated, Agreement") pursuant to which Franchisee operates a Canopy® Lawn Care Business located in ("Franchised Business"). |
| 2. |
Source: Item 22 — CONTRACTS (FDD page 55)
What This Means (2025 FDD)
According to Canopy Lawn Care's 2025 Franchise Disclosure Document, the Successor Addendum amends the original Franchise Agreement. The Successor Addendum modifies the terms of the Successor Franchise Agreement, which the franchisee enters into upon extending their rights to operate the Lawn Care Business for additional terms after the initial term expires.
The Franchise Agreement, as stated in the background section of the Successor Addendum, is the initial agreement between Canopy Lawn Care and the franchisee that allows the franchisee to operate a Canopy Lawn Care Business. The Successor Addendum is designed to be incorporated into the Successor Franchise Agreement, which is a new agreement executed when the franchisee chooses to extend their franchise term.
Specifically, the Successor Addendum addresses aspects such as franchise fees and the franchisee's duties and obligations. For example, it amends Section 5 related to the franchise fee, replacing the original language with updated terms for the Successor Franchise Fee. It also removes sections related to guidance, coaching, and assistance, as well as franchisee's duties, obligations, and operating standards, indicating potential changes in the support and requirements for franchisees who renew their agreements.