Who is the 'Releasor' in the Desi District General Release?
Desi_District Franchise · 2024 FDDAnswer from 2024 FDD Document
This General Release ("Release") is executed by the undersigned ("Releasor") in favor of Desi District Franchise Group, LLC, a Delaware Limited Liability Company ("Desi District Franchise Group").
Background Statement: [describe circumstances of Release]
Releasor agrees as follows:
- **1.
Release.** 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 Desi District Franchise Group, 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").
- **2.
Covenant Not to Sue.** Releasor (on behalf of all Releasing Parties) covenants not to initiate, prosecute, encourage, assist, or (except as required by law) participate in any civil, criminal, or administrative proceeding or investigation in any court, agency, or other forum, either affirmatively or by way of cross-claim, defense, or counterclaim, against any Released Party with respect to any Claim.
- **3.
Representations and Acknowledgments.** Releasor represents and warrants that: (i) Releasor is the sole owner of all Claims, and that no Releasing Party has assigned or transferred, or purported to assign or transfer, to any person or entity, any Claim; (ii) Releasor has full power and authority to sign this Release; and (iii) this Release has been voluntarily and knowingly signed after Releasor has had the opportunity to consult with counsel of Releasor's choice.
Source: Item 23 — RECEIPTS (FDD pages 52–140)
What This Means (2024 FDD)
According to Desi District's 2024 Franchise Disclosure Document, the 'Releasor' in the General Release is the undersigned party executing the release. This party is releasing Desi District Franchise Group, LLC from any and all claims. The Releasor acts on behalf of themselves, their parents, subsidiaries, affiliates, and their respective past and present officers, directors, shareholders, managers, members, partners, agents, and employees, collectively referred to as the "Releasing Parties."
The General Release outlines that the Releasor releases Desi District Franchise Group, its affiliates, and their respective directors, officers, shareholders, employees, and agents (collectively, the "Released Parties") from any claims, causes of action, suits, debts, agreements, promises, demands, liabilities, contractual rights, or obligations, known or unknown, that the Releasing Party has or ever had against any Released Party. This includes anything arising out of the Franchise Agreement through the date of the release.
The Releasor also agrees to a Covenant Not to Sue, meaning they will not initiate or participate in any legal proceedings against the Released Parties concerning any claim. The Releasor represents that they are the sole owner of all claims and have the authority to sign the release, acknowledging that they have done so voluntarily after having the opportunity to consult with legal counsel.
This General Release is Desi District's standard form, but it is not signed when a franchise is initially purchased. It may be required in circumstances such as a franchise renewal or as a condition for approving the sale of a franchise.