Who are the 'Released Parties' as defined in the Crave Cookies General Release?
Crave_Cookies Franchise · 2025 FDDAnswer from 2025 FDD Document
Releasor (on behalf of itself and its parents, subsidiaries and affiliates and their respective past and present officers, directors, shareholders, managers, members, partners, agents, and employees (collectively, the "Releasing Parties")) hereby releases Crave Cookies Franchising, its affiliates, and their respective directors, officers, shareholders, employees, and agents (collectively, the "Released Parties") from any and all claims, causes of action, suits, debts, agreements, promises, demands, liabilities, contractual rights and/or obligations, of whatever nature, known or unknown, which any Releasing Party now has or ever had against any Released Party based upon and/or arising out of events that occurred through the date hereof, including without limitation, anything arising out of the Franchise Agreement (collectively, "Claims").
Source: Item 23 — RECEIPTS (FDD pages 47–194)
What This Means (2025 FDD)
According to Crave Cookies's 2025 Franchise Disclosure Document, the "Released Parties" in the General Release include Crave Cookies Franchising, LLC, its affiliates, and their respective directors, officers, shareholders, employees, and agents. This definition is important because the Releasor, which is the franchisee, agrees to release these parties from any and all claims, causes of action, suits, debts, agreements, promises, demands, liabilities, contractual rights, and/or obligations. This release covers both known and unknown issues that occurred up to the date of the release, including matters arising from the Franchise Agreement.
This means that when a franchisee signs the General Release, they are giving up their right to sue Crave Cookies and related parties for virtually any reason covered by the release. This could include disputes over royalties, marketing, or any other aspect of the franchise agreement. The franchisee also agrees not to participate in any legal proceedings against the Released Parties.
It is important to note that Crave Cookies may require a franchisee to sign this release in certain circumstances, such as a renewal of the franchise or as a condition of approving a sale of the franchise. Franchisees should carefully consider the implications of signing such a release and consult with an attorney before doing so. The FDD also notes specific state law exceptions; for example, the release shall not apply to any liability under the Maryland Franchise Registration and Disclosure Law, or claims arising under the Washington Franchise Investment Protection Act.