factual

Who are the intended third-party beneficiaries under the Chop5 Salad Kitchen agreement, and with respect to which sections?

Chop5_Salad_Kitchen Franchise · 2024 FDD

Answer from 2024 FDD Document

rules in the administration of these debit entries. Debit entries will be initiated only as authorized above. This authorization is to remain in full force and effect until Franchisor has received written notification from Franchisee of its termination in such time and in such manner as to afford Franchisor and the Bank a reasonable opportunity to act on it. Franchisee shall notify Franchisor of any changes to any of the | | Signature: | | Date: | | Name: | | | | Title: | | | | Federal Tax ID Number: | | | | | | |

ATTACHMENT "F"

TO FRANCHISE AGREEMENT

BRAND PROTECTION AGREEMENT

[See Attached]

BRAND PROTECTION AGREEMENT

This Agreement (this "Agreement") is entered into by the undersigned ("you") in favor of CHOP5 Franchise LLC, a Kentucky limited liability company, and its successors and assigns ("us"), upon the terms and conditions set forth in this Agreement.

  • 1. Definitions. For purposes of this Agreement the following terms have the meanings given to them below:
    • "Business Data" means all data pertaining to Franchisee's Restaurant, customers and business operations, whether collected by you, Franchisee, us or any other person.
    • "Competing Business" means any business that meets at least one of the following criteria: (a) any fast casual restaurant that derives, or is reasonably expected to derive, at least 35% of its revenue from the sale of made-to-order salads, salad bowls, grain bowls and/or soups; (b) any business that solicits, offers or sells franchises or licenses for a business that meets the criteria in clause (a) of this definition; and/or (c) any business that services, trains, supports, consults with, advises or otherwise assists any Person with respect to the development, management and/or operation of a business that meets the criteria in clause (a) of this definition. A Competing Business does not include any CHOP5 Salad Kitchen Restaurant operated pursuant to a valid franchise agreement or license agreement with us or our affiliate.
    • "Confidential Information" means and includes: (a) the Know-How; (b) the Business Data;

Source: Item 23 — RECEIPT (FDD pages 50–178)

What This Means (2024 FDD)

Based on the 2024 Chop5 Salad Kitchen FDD, the Brand Protection Agreement and the Franchise Owner Agreement both designate CHOP5 Franchise LLC, including its successors and assigns, as the intended beneficiary.

The Brand Protection Agreement, outlined in Attachment F, specifies that the agreement is entered into by the undersigned in favor of CHOP5 Franchise LLC, a Kentucky limited liability company, and its successors and assigns, establishing them as beneficiaries of the terms and conditions detailed within that agreement. This agreement is signed by individuals to protect the Chop5 Salad Kitchen brand.

Similarly, the Franchise Owner Agreement, detailed in Attachment D, states that the agreement is made in favor of CHOP5 Franchise LLC, a Kentucky limited liability company, and its successors and assigns. This agreement is signed by the owners of the franchisee and their spouses, ensuring that Chop5 Salad Kitchen benefits from the obligations and commitments made by these individuals.

Disclaimer: This information is extracted from the 2024 Franchise Disclosure Document and is provided for research purposes only. It does not constitute legal or financial advice. Consult with a franchise attorney before making any investment decisions.