Can Devon Creek exercise its rights and remedies at any time?
Devon_Creek Franchise · 2024 FDDAnswer from 2024 FDD Document
Franchisee agrees that at any time after the date of this Agreement, Franchisee will perform such acts and execute and deliver such documents as may be necessary to assist in or accomplish the purposes of this Agreement.
- 3.5 Successors, Assigns, and Affiliates.
All Franchisor's rights and powers, and all Franchisee's obligations, under this Agreement shall be binding on Franchisee's successors, assigns, and affiliated persons or entities as if they had duly executed this Agreement.
- 3.6 Effect on Other Agreements.
Except as otherwise provided in this Agreement, all provisions of the Franchise Agreement and exhibits and schedules thereto shall remain in effect as set forth therein.
- 3.7 Survival.
This Agreement shall survive the Termination of the Franchise Agreement.
- 3.8 Governing Law.
This Agreement shall be governed by and construed under the laws of the State of North Carolina, without regard to the application of North Carolina conflict of law rules.
Source: Item 22 — CONTRACTS (FDD page 45)
What This Means (2024 FDD)
Based on the 2024 Devon Creek Franchise Disclosure Document, the franchisee agrees to perform required actions and deliver documents to assist or accomplish the agreement's purposes at any time after the agreement date. Additionally, upon termination or expiration of the agreement, all rights granted to the franchisee will immediately terminate, and the franchisee must cease operations and any identification as a Devon Creek franchisee.
The franchisee must also stop using Devon Creek's marks and intellectual property and cancel any assumed name registrations containing Devon Creek's trademarks. Furthermore, the franchisee is obligated to promptly pay all sums owed to Devon Creek and its affiliates, including damages, costs, and expenses, such as reasonable attorney's fees, resulting from any default by the franchisee. This payment obligation creates a lien in favor of Devon Creek against the franchisee's personal property and business assets until fully paid.
Devon Creek also has the right to seek remedies for violations of the agreement, including injunctive relief, and the franchisee is responsible for all associated damages, costs, and attorney's fees incurred by Devon Creek in obtaining such remedies. These post-termination obligations ensure the protection of Devon Creek's brand and interests, and the franchisee's compliance is critical to avoid further legal and financial repercussions.