What agreements are customarily employed by Devon Creek for a Successor Franchise Agreement?
Devon_Creek Franchise · 2024 FDDAnswer from 2024 FDD Document
- 5.2.4 Franchisee performs such repairs, upgrades and replacements as Franchisor may require causing the Franchised Business equipment, computer system, vehicle(s) and other assets to conform to the then-current specifications for franchised businesses on the renewal date.
- 5.2.5 Franchisee shall execute a general release of all claims Franchisee may have against Devon Creek Franchise Group, LLC, its parent, subsidiaries and affiliates, its officers, directors, shareholders, agents, and employees, whether in their corporate and/or individual capacities, in the form attached hereto as Attachment 4. This release will include all claims arising under any federal, state, or local law, rule, or ordinance.
- 5.2.6 Franchisee shall pay the required Successor Agreement Fee and sign the Successor Franchise Agreement.
- 5.3 Notice Required by Law. If applicable law requires Franchisor to give notice to Franchisee prior to the expiration of the Term, this Agreement shall remain in effect on a month-to-month basis until Franchisor has given the notice required by such applicable law. If Franchisor is not offering new Devon Creek Franchise Group, LLC, is in the process of revising, amending or renewing Franchisor's form of franchise agreement or disclosure document, or Franchisor is not lawfully able to offer Franchisee the thencurrent form of Successor Franchise Agreement at the time Franchisee advises Franchisor pursuant to Paragraph 5.2 hereof that Franchisee desires to renew, Franchisor may, in Franchisor's sole discretion, (i) offer to renew this Agreement upon the same terms set forth herein for the appropriate successor term or (ii) offer to extend the Term hereof on a month-to-month basis following the expiration of the Term for as long as Franchisor deems necessary or appropriate so that Franchisor may lawfully offer the then current form of Successor Franchise Agreement. Any timeframes specified in this Paragraph 5 shall be inclusive of any state mandated notice periods.
- 5.4 Additional Reservation of Rights. Notwithstanding anything herein to the contrary, Franchisor reserves the right not to enter into a successor franchise agreement for this Franchise as a result of a decision to withdraw from the Territory in which Franchisee's Franchised Business is located.
Source: Item 22 — CONTRACTS (FDD page 45)
What This Means (2024 FDD)
According to Devon Creek's 2024 Franchise Disclosure Document, to obtain a Successor Franchise Agreement, a franchisee must fulfill several requirements. The franchisee is responsible for performing any necessary repairs, upgrades, and replacements to ensure that the franchised business's equipment, computer system, vehicles, and other assets meet the then-current specifications for franchised businesses as of the renewal date.
Additionally, the franchisee must execute a general release of all claims against Devon Creek Franchise Group, LLC, including its parent company, subsidiaries, affiliates, officers, directors, shareholders, agents, and employees. This release, which is included as Attachment 4 in the FDD, covers all claims arising under any federal, state, or local law, rule, or ordinance.
Finally, the franchisee is required to pay the Successor Agreement Fee and sign the Successor Franchise Agreement. Devon Creek also retains the right not to enter into a successor franchise agreement if it decides to withdraw from the territory where the franchisee's business is located.