What is the 'Effective Date' referring to in the Crave Food Truck Addendum?
Crave Franchise · 2025 FDDAnswer from 2025 FDD Document
and shall inure to the benefit of its respective affiliates, successors and assigns.
- j. The obligations of Covenantor hereunder may not be assigned by Covenantor, without the prior written consent of Franchisor.
The undersigned have entered into this Confidentiality and Non-Compete Agreement as witnessed by their signatures below.
CRAVE FRANCHISING, LLC Samantha Rincione CEO and COO COVENANTOR:
Exhibit B-2 to the Crave Franchise Disclosure Document
FOOD TRUCK ADDENDUM
ADDENDUM TO THE CRAVE FRANCHISING, LLC FRANCHISE AGREEMENT
| This Addendum | (the "Addendum') is being entered into this day of | ||
|---|---|---|---|
| , (the "Effective Date") by and between CRAVE Franchising, LLC, a Wyoming limited liability | |||
| company, with its principal address at 159 N. Wolcott St. Suite 133, | Casper, WY 82601 | ("Franchisor", | |
| "we", "our", or "us") and | , a(n) |
Source: Item 23 — RECEIPTS (FDD pages 63–253)
What This Means (2025 FDD)
According to Crave's 2025 Franchise Disclosure Document, the 'Effective Date' in the context of the Food Truck Addendum refers to the date the addendum is officially signed and becomes active. This date is crucial because it triggers several obligations and timelines for the franchisee.
Specifically, the franchisee must commence operations of the Food Truck business no later than six months after the Effective Date. Failing to meet this deadline, unless due to a force majeure event, could lead to Crave either granting an extension or terminating the agreement.
Furthermore, any Crave businesses already in operation, under lease, or in the process of opening within the Designated Territory as of the Effective Date are not subject to certain restrictions outlined in the agreement. This clause protects existing Crave operations from potential conflicts with the new franchisee's territory. Therefore, understanding the Effective Date is essential for a prospective Crave food truck franchisee to be aware of their obligations and rights under the agreement.