What article in the Crab N Spice franchise agreement addresses indemnification for Crab N Spice franchisees?
Crab_N_Spice Franchise · 2024 FDDAnswer from 2024 FDD Document
- 14.3 Effect of Termination. Upon termination or expiration of this Agreement, all obligations that by their terms or by reasonable implication survive termination, including those pertaining to non-competition, confidentiality, indemnity, and dispute resolution, will remain in effect, and Franchisee must immediately:
Source: Item 9 — FRANCHISEE'S OBLIGATIONS (FDD pages 19–20)
What This Means (2024 FDD)
According to the 2024 Crab N Spice Franchise Disclosure Document, Article 14.3 addresses indemnification. Specifically, it states that upon termination or expiration of the Franchise Agreement, all obligations that survive termination, including those pertaining to indemnity, will remain in effect.
This means that even after the franchise agreement ends, a franchisee's responsibility to cover certain losses or liabilities of Crab N Spice, as defined in the agreement, continues. This could include legal fees, damages, or other costs arising from the franchisee's operation of the business.
Prospective franchisees should carefully review the specific indemnification clauses within the franchise agreement to understand the full scope of their potential liabilities, both during the term of the agreement and after its termination. It is important to seek legal counsel to fully understand these obligations.