In the Crave Confidentiality and Non-Compete Agreement, what is the term used to refer to the individual who resides at a specific location and is a party to the agreement?
Crave Franchise · 2025 FDDAnswer from 2025 FDD Document
| This Confidentiality and Non-Compete Agreement (the "Agreement") is made and entered into this | |
|---|---|
| (the "Effective Date"), by CRAVE Franchising, LLC, a | |
| Wyoming limited liability company | , an individual, residing |
| ("Franchisor"), and | |
| at | ("Covenantor"), in connection with a franchise |
| agreement executed by Franchisor and | ("Principal" and "Franchisee"). |
Source: Item 23 — RECEIPTS (FDD pages 63–253)
What This Means (2025 FDD)
According to Crave's 2025 Franchise Disclosure Document, the term used to refer to an individual residing at a specific location who is a party to the Confidentiality and Non-Compete Agreement is "Covenantor". This individual is agreeing to protect Crave's confidential information and adhere to non-compete restrictions. The agreement is made and entered into by Crave Franchising, LLC ("Franchisor") and the individual residing at a specified address.
The agreement is connected to a franchise agreement executed by Crave and another party referred to as "Principal" and "Franchisee." The Covenantor's agreement is a condition for granting rights in the Franchise Agreement to the Franchisee. This highlights the importance Crave places on protecting its confidential information and system.
As a prospective franchisee, it's important to understand who the Covenantor is, as this role carries significant legal obligations. Typically, this refers to a spouse or close family member of the franchisee who may have access to confidential business information. The agreement aims to prevent these individuals from disclosing sensitive information or engaging in competitive activities that could harm Crave.