For Canopy Lawn Care, what does the term 'Agreement' refer to in the context of the vehicle lease?
Canopy_Lawn_Care Franchise · 2025 FDDAnswer from 2025 FDD Document
LEASE OF VEHICLES: Lessor hereby leases to Lessee and Lessee hereby leases from Lessor the vehicles (individually, a "Vehicle" and collectively, the "Vehicles") described in the schedules from time to time delivered by Lessor to Lessee as set forth below ("Schedule(s)") for the rentals and on the terms and conditions set forth in this Agreement and in the applicable Schedule. References to this "Agreement" shall include this Master Equity Lease Agreement and the various Schedules and addenda to this Master Equity Lease Agreement, each of which are incorporated herein as part of a single, unitary Agreement. Lessor will, on or about the date of delivery of each Vehicle to Lessee, send Lessee a Schedule covering the Vehicle, which will include, among other things, a description of the Vehicle, the lease term and the monthly rental and other payments due with respect to the Vehicle. The terms contained in each such Schedule will be binding on Lessee unless Lessee objects in writing to such Schedule within ten (10) days after the date of delivery of the Vehicle covered by such Schedule. Lessor is the sole legal owner of each Vehicle. This Agreement is a lease only and Lessee will have no right, title or interest in or to the Vehicles except for the use of the Vehicles as described in this Agreement. This Agreement shall be treated as a true lease for federal and applicable state income tax purposes with Lessor having all bene ts of ownership of the Vehicles. It is understood and agreed that Enterprise Fleet Management, Inc. or an af liate thereof (together with any subservicer, agent, successor or assign as servicer on behalf of Lessor, "Servicer") may administer this Agreement on behalf of Lessor and may perform the service functions herein provided to be performed by Lessor.
Source: Item 23 — RECEIPT (FDD pages 55–199)
What This Means (2025 FDD)
According to Canopy Lawn Care's 2025 Franchise Disclosure Document, the term 'Agreement' in the context of the vehicle lease refers to the Master Equity Lease Agreement, including all schedules and addenda. This means that the entire leasing arrangement is governed not only by the master agreement itself but also by any additional schedules or documents that are attached to it. These schedules and addenda are incorporated into the agreement, forming a single, unified contract.
Each time Canopy Lawn Care delivers a vehicle to the franchisee (Lessee), they will also provide a schedule that outlines specific details about that vehicle. This schedule includes a description of the vehicle, the lease term, and the monthly rental payments. Unless the franchisee objects to the terms in writing within ten days of receiving the vehicle, the terms in the schedule become binding.
This comprehensive definition of 'Agreement' is important for Canopy Lawn Care franchisees because it clarifies that all related documents are legally binding. Franchisees need to carefully review both the Master Equity Lease Agreement and any accompanying schedules to fully understand their obligations and rights under the vehicle lease.