What is the 'Agreement' referring to in the Cinch I.T. amendment?
Cinch_I_T Franchise · 2024 FDDAnswer from 2024 FDD Document
eller, or other person acting on behalf of the franchisor. This provision supersedes any other term of any document executed in connection with the franchise.
[signatures on following page]
The undersigned does hereby acknowledge receipt of this Amendment. Dated this day of, 20 CINCH FRANCHISE, LLC
AMENDMENT TO CINCH FRANCHISE, LLC
MULTI-UNIT DEVELOPMENT AGREEMENT AND RELATED DOCUMENTS FOR THE STATE OF ILLINOIS
| The CINCH I.T. Multi-Unit Development | Agreement between | |------------------------------------------|--------------------------------------------------------------------------------------------| | | ("Developer") and CINCH FRANCHISE, LLC, a Massachusetts limited liability company | | ("Franchisor"), dated | (the "Development Agreement") shall be amended by the addition of the following language, which shall be considered an integral part of this | | Agreement (this "Amendment"): | | Illinois law governs the Franchise Agreement.
Source: Item 23 — RECEIPTS (FDD pages 60–269)
What This Means (2024 FDD)
According to Cinch I.T.'s 2024 Franchise Disclosure Document, the term "Agreement" within the context of the amendment refers to either the Cinch I.T. Multi-Unit Development Agreement or the Cinch I.T. Franchise Agreement. The specific agreement being amended depends on whether the franchisee is a multi-unit developer or a single-unit franchisee. The amendment adds language that is considered an integral part of the existing agreement, whether it's the Development Agreement for multi-unit developers or the Franchise Agreement for individual franchisees.
For a multi-unit developer, the "Agreement" refers to the CINCH I.T. Multi-Unit Development Agreement. This agreement outlines the rights and responsibilities of the developer in establishing multiple Cinch I.T. franchised businesses within a specific area. The amendment modifies this agreement, and its provisions become a part of the original Development Agreement.
For a single-unit franchisee, the "Agreement" refers to the CINCH I.T. Franchise Agreement. This agreement grants the franchisee the right to operate a single Cinch I.T. franchised business. The amendment modifies this agreement, and its provisions become a part of the original Franchise Agreement. Therefore, prospective franchisees should carefully review the specific amendment to understand how it alters the terms and conditions of their respective agreements.