Does Care Plus Medical Ucc have a purchase option when the agreement expires or is terminated?

According to Care Plus Medical Ucc's 2024 Franchise Disclosure Document, Care Plus Medical Ucc has the right, but not the obligation, to purchase the assets of the franchise when the franchise agreement expires or is terminated. Care Plus Medical Ucc can also require the franchisee to assign their lease or sublease to them. To exercise this option, Care Plus Medical Ucc must notify the franchisee within 30 days after the agreement expires or is terminated.

The purchase price for the assets will be the lower of either the book value of the assets as declared on the franchisee's last filed tax returns, or the fair market value of the assets. If Care Plus Medical Ucc and the franchisee cannot agree on the fair market value within 30 days of the notice, an independent appraiser, acceptable to both parties, will determine the value. The cost of the appraisal will be equally shared between both parties.

The purchase by Care Plus Medical Ucc will be for the assets only, free and clear of all liens, and will not include any liabilities of the franchisee. The purchase price will not include any value for trademarks, intangible assets, or goodwill. Care Plus Medical Ucc can withdraw its purchase option before payment. Care Plus Medical Ucc may deduct from the purchase price any amounts due from the franchisee, the franchisee's share of the appraisal cost, and amounts paid by Care Plus Medical Ucc to cure defaults under the franchisee's lease or amounts owed to third parties. Care Plus Medical Ucc may withhold 25% of the purchase price for 90 days to ensure all taxes and liabilities are paid and may assign this purchase option to another party.