What payments are a Christies International Real Estate franchisee obligated to make to Christies International Real Estate and its affiliates after termination?
Christies_International_Real_Estate Franchise · 2025 FDDAnswer from 2025 FDD Document
You acknowledge and agree that following termination or expiration of this Agreement, you will comply with any continuing obligation to cooperate with us on or relating to any litigation, acquisition, or intellectual property rights.
(c) Pay to us all amounts owing to us and our affiliates.
(e) Abide by any other covenant in this Agreement that requires performance by you after you are no longer an Affiliate.
Source: Item 23 — RECEIPT (FDD pages 54–177)
What This Means (2025 FDD)
According to the 2025 Christies International Real Estate FDD, upon termination or expiration of the Franchise Agreement, a franchisee is obligated to pay all outstanding amounts owed to Christies International Real Estate and its affiliates. This means that any unpaid fees, royalties, or other financial obligations that the franchisee has accumulated during the term of the agreement must be settled. This is a standard practice in franchising, ensuring that all financial matters are resolved when the franchise relationship ends.
In addition to settling outstanding debts, the franchisee must also adhere to any ongoing obligations outlined in the Franchise Agreement that extend beyond the termination date. These obligations could include continued cooperation in litigation, acquisitions, or intellectual property matters. This ensures that the franchisee remains accountable for certain responsibilities even after the franchise agreement is no longer in effect.
Overall, these post-termination payment obligations are designed to protect Christies International Real Estate's financial interests and ensure the orderly conclusion of the franchise relationship. Prospective franchisees should carefully review the Franchise Agreement to fully understand the scope of these obligations and plan accordingly.