factual

Who specifically is included in the Dryer Vent Squad definition of 'Franchisor Indemnified Parties'?

Dryer_Vent_Squad Franchise · 2024 FDD

Answer from 2024 FDD Document

Franchisor shall indemnify, defend, and hold Franchisee and Franchisee's officers, directors, shareholders, members, owners, partners, agents, representatives, independent contractors, employees, assigns and successors (the "Franchisee Indemnified Parties") harmless from all losses, expenses, claims, causes of action, lawsuits, liabilities, taxes, costs, demands, proceedings, investigation, hearing, and/or damages solely arising out of, or solely relating to, Franchisor's gross negligence in the operation of Franchisee's

Source: Item 23 — RECEIPTS (FDD pages 51–207)

What This Means (2024 FDD)

Based on the 2024 Dryer Vent Squad Franchise Disclosure Document, the document does not define 'Franchisor Indemnified Parties'. However, it does define 'Franchisee Indemnified Parties' as the individuals and entities that the franchisor will indemnify, defend, and hold harmless under certain conditions.

The 'Franchisee Indemnified Parties' include the franchisee and the franchisee's officers, directors, shareholders, members, owners, partners, agents, representatives, independent contractors, employees, assigns, and successors. This means that if a claim arises due to Dryer Vent Squad's gross negligence in the operation of the franchisee's Dryer Vent Squad Business, these individuals and entities are protected under the indemnification clause.

It is important to note that this indemnification is contingent upon the franchisee immediately notifying Dryer Vent Squad of any claim, cause of action, lawsuit, demand, proceeding, investigation, or hearing. Dryer Vent Squad is then responsible for paying the reasonable costs, fees, and expenses of defending against such claims, including accountant fees, attorney fees, expert witness fees, court costs, deposition fees, travel expenses, and other litigation expenses. This protection survives the termination, expiration, or transfer of the Franchise Agreement.

Disclaimer: This information is extracted from the 2024 Franchise Disclosure Document and is provided for research purposes only. It does not constitute legal or financial advice. Consult with a franchise attorney before making any investment decisions.