When does the Cool Binz Equipment Agreement terminate?
Cool_Binz Franchise · 2025 FDDAnswer from 2025 FDD Document
e date of termination or expiration;
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- deliver to us, within 30 days, evidence that is satisfactory to us of your compliance with each of the foregoing obligations.
C. CONFIDENTIAL INFORMATION.
You promise that, upon termination or expiration of this Agreement, you must immediately cease to use any of our Confidential Information (including any computer software that we have provided or made available to you) in any business or otherwise, return to us all copies of the Operations Manual and other confidential materials that we have loaned to you, and you shall not maintain any copies of any such materials, in whole or part.
D. COVENANT NOT TO COMPETE.
For a period of 18 months from the time of expiration or termination of this Agreement, you and your owners and, if applicable, your Designated General Manager, shall not (a) engage as an owner, shareholder, partner, director, officer, employee, consultant, salesperson, representative, or agent or in any other capacity, including membership in a local union, in any leasing of portable storage containers, devices and equipment, including, climate-controlled and non-climatecontrolled storage containers, mobile offices, mobile refrigeration units and/or freezers, (b) solicit business from Customers of your former COOL BINZ Business or contact any of our suppliers or vendors for any competitive business purpose, or (c) divert or attempt to divert any business or Customer of the COOL BINZ Business to any competitor, by direct or indirect inducement or otherwise, or do or perform, directly or indirectly, any other act injurious or prejudicial to the goodwill associated with the Marks or the System or engage in any business relationship with any contacts with Customers or former Customers of the COOL BINZ Business, whether with respect to collection of accounts receivable, or to provide them services, or for any other purpose whatsoever, within:
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- the Territory as defined in this Agreement;
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- the geographic area encompassed by the Territories of any COOL BINZ franchisees, Company Stores, or any other COOL BINZ business operator, as of the date of the termination or expiration of this Agreement; or
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Source: Item 23 — RECEIPTS (FDD pages 63–238)
What This Means (2025 FDD)
Based on the 2025 Cool Binz Franchise Disclosure Document, the Equipment Agreement terminates when the Franchise Agreement expires or is terminated. Upon termination or expiration, the franchisee must cease using Cool Binz's confidential information, including computer software, and return all copies of the Operations Manual and other confidential materials. The franchisee is prohibited from keeping any copies of these materials.
Additionally, for a period of 18 months following the expiration or termination of the Franchise Agreement, the franchisee, their owners, and designated general manager are subject to a covenant not to compete. This prevents them from engaging in any business involving the leasing of portable storage containers, soliciting customers or suppliers of Cool Binz, or diverting business from Cool Binz within the territory defined in the agreement, the territories of other Cool Binz franchisees or company stores, or a 50-mile radius from the territory's boundary.
Upon termination or expiration, the franchisee has several obligations, including canceling DBAs related to the use of any Cool Binz mark, delivering all electronic and hard copies of customer information, and removing all signage from vehicles and storefronts. The franchisee must also return the Operations Manual, proprietary information, confidential materials, required software, signs, marketing materials, and other items related to the Cool Binz business. Furthermore, the franchisee must notify telephone companies and internet directory listings of the termination of their right to use any listings or telephone numbers associated with the Cool Binz mark and authorize the transfer of these numbers to Cool Binz.