How are 'we,' 'us,' and 'our' defined in the Cream franchise agreement regarding rights and obligations?
Cream Franchise · 2025 FDDAnswer from 2025 FDD Document
-|---|---|---| | Marks, unless we direct you otherwise in connection with our exercise of our option to purchase | | | |
ATTACHMENT D TO FRANCHISE AGREEMENT
GUARANTY AND ASSUMPTION OF OBLIGATIONS
THIS GUARANTY AND ASSUMPTION OF OBLIGATIONS is given by each of the undersigned persons indicated below who have executed this Guaranty (each a "Guarantor") to be effective as of the Effective Date of the Agreement (defined below).
In consideration of, and as an inducement to, the execution of that certain Franchise Agreement (the "Agreement") on this date by Jeni's Splendid Ice Creams Franchise, LLC ("us," "we," or "our"), each Guarantor personally and unconditionally (a) guarantees to us and our successors and assigns, for the term of the Agreement and afterward as provided in the Agreement, that ________________________________________ ("Franchise Owner") will punctually pay and perform each and every undertaking, agreem
Source: Item 23 — RECEIPTS (FDD pages 61–192)
What This Means (2025 FDD)
According to Cream's 2025 Franchise Disclosure Document, the terms "us," "we," and "our" refer to Jeni's Splendid Ice Creams Franchise, LLC, the franchisor. This definition is crucial within the context of the Guaranty and Assumption of Obligations agreement, which is an attachment to the franchise agreement.
Specifically, the Guaranty and Assumption of Obligations agreement outlines that in consideration of Cream entering into a franchise agreement with the Franchise Owner, the Guarantor (typically an owner with a significant stake in the franchisee entity) guarantees to Cream (referred to as "us," "we," or "our") that the Franchise Owner will fulfill all obligations outlined in the franchise agreement. This includes both monetary obligations and specific actions or restrictions detailed in the agreement.
This definition is important because it clarifies to whom the franchisee and guarantor are responsible. The guarantor is personally bound to ensure the franchisee adheres to the agreement's provisions, thereby providing Cream with an additional layer of security. This arrangement is typical in franchising, where franchisors seek to ensure compliance and protect their brand standards and financial interests.