In the Crisp & Green Area Development Agreement, what is the agreement's effective date based on?
Crisp_Green Franchise · 2024 FDDAnswer from 2024 FDD Document
| This Area Development Agreement ("Agreement") is made and entered into by and between |
|---|
| CRISP & GREEN FRANCHISING LLC |
| ("Franchisor," "we," or "us"), a Minnesota limited |
| liability company, with its principal place of business located at 746 Mill Street E, Wayzata, |
| Minnesota 55391, and ("Developer" or "you"), |
| a(n), with its principal place of business located at |
| , as |
| of the date signed by us and set forth below our signature on this Agreement (the "Effective Date"). |
Source: Item 23 — RECEIPTS (FDD pages 66–252)
What This Means (2024 FDD)
According to the 2024 Crisp & Green Franchise Disclosure Document, the effective date of the Area Development Agreement is determined by the date it is signed by Crisp & Green Franchising LLC. The agreement explicitly states that the effective date is "of the date signed by us and set forth below our signature on this Agreement." This means the agreement comes into effect once Crisp & Green has signed and dated the document.
For a prospective Crisp & Green developer, this is an important detail because it clarifies when the obligations and rights outlined in the agreement officially begin. For instance, any timelines or deadlines related to development schedules or protected territories would be calculated from this effective date.
It is also important to note that the agreement is made and entered into by and between Crisp & Green Franchising LLC and the developer, further emphasizing that both parties must agree to the terms for the agreement to be effective. The developer's information, including the type of entity and principal place of business, is also recorded in conjunction with the effective date.