In the context of the lease agreement for Checkersrallys, what information is required for the Tenant's signature block?
Checkersrallys Franchise · 2025 FDDAnswer from 2025 FDD Document
PERCENTAGE OF OWNERSHIP INTERESTS IN FRANCHISEE GUARANTOR(S) (Signature) (Print Name) (Signature) (Print Name) (Signature) (Print Name) (Signature) (Print Name) (Signature) (Print Name) DATE: , Subscribed and sworn to before me this day of , Notary Public My Commission expires:
IN WITNESS WHEREOF, the parties have executed and delivered this Agreement on the day and year first above written.
CHECKERS DRIVE-IN RESTAURANTS, INC., a Delaware corporation If a corporation, limited liability company or partnership: Print Name: (Name of corporation, limited liability company or partnership) *Effective Date: Print Name: Print Name: Print Name: Print Name: If individuals: (Signature) (Print Name) (Signature) (Print Name) (Signature) (Print Name)
Source: Item 22 — CONTRACTS (FDD pages 91–92)
What This Means (2025 FDD)
According to Checkersrallys's 2025 Franchise Disclosure Document, the franchise addendum to the lease agreement requires specific information in the signature block for the tenant. The document indicates that the tenant's signature block should include the signature, printed name, and the date of signing. Additionally, if the franchisee is a corporation, limited liability company, or partnership, the name of the entity must be printed. If the franchisee involves individual guarantors, their signatures and printed names are also required, along with the percentage of ownership interests in the franchisee. A notary public must also subscribe and swear to the signatures, including the date and the expiration of their commission.
This level of detail ensures that all parties involved are clearly identified and legally bound to the terms of the lease agreement and the franchise addendum. For a prospective Checkersrallys franchisee, this means paying close attention to the signature requirements and ensuring that all necessary individuals and entities sign the documents correctly. Failure to comply with these requirements could potentially lead to legal complications or delays in the establishment of the franchise.
It is also important for the franchisee to understand the implications of the personal guarantees, as these individuals are directly liable for the franchisee's obligations under the agreement. The franchisee should consult with legal and financial advisors to fully understand the risks and responsibilities associated with signing the franchise addendum and the lease agreement.