What information must Attachment A to the Cream franchise agreement accurately describe?
Cream Franchise · 2025 FDDAnswer from 2025 FDD Document
You agree and represent that Attachment A to this Agreement completely and accurately describes all of your owners and their interests in you as of the Effective Date. Each of your owners with a 10% or greater ownership interest in your Entity must execute a guarantee in the form we prescribe undertaking personally to be bound, jointly and severally, by all provisions of this Agreement and any ancillary agreements between you and us. Our current form of guarantee is attached herein as Attachment D. Subject to our rights and your obligations under Section 12, you and your owners agree to sign and deliver to us revised Attachment A to reflect any permitted changes in the information that Attachment A now contains.
Source: Item 23 — RECEIPTS (FDD pages 61–192)
What This Means (2025 FDD)
According to Cream's 2025 Franchise Disclosure Document, Attachment A to the franchise agreement must completely and accurately describe all of the owner's and their interests in the entity as of the effective date of the agreement. This applies if the franchisee is a corporation, limited liability company, or partnership.
Each owner with a 10% or greater ownership interest in the Cream franchise must execute a guarantee, undertaking personally to be bound by all provisions of the agreement and any ancillary agreements. Cream's current form of guarantee is attached as Attachment D.
Furthermore, the franchisee and their owners agree to sign and deliver revised Attachment A to reflect any permitted changes in the information that Attachment A contains, subject to Cream's rights and the franchisee's obligations under Section 12 of the agreement. This ensures that Cream has up-to-date information regarding the ownership structure of the franchise.