What other agreement is executed on the same day as the Multi-Unit Development Agreement for Endless Summer Sweets?
Endless_Summer_Sweets Franchise · 2024 FDDAnswer from 2024 FDD Document
vided that Franchisor will be liable to Landlord for any damage Franchisor or its designee causes by such removal.
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- No Liability. By executing this Rider, Franchisor does not assume any liability with respect to the Leased Premises or any obligation as Tenant under the Lease.
Executed by:
LANDLORD: TENANT:
EXHIBIT C TO DISCLOSURE DOCUMENT
MULTI-UNIT DEVELOPMENT AGREEMENT
This Multi-Unit Development Agreement (this "MUDA") is made between Endless Summer Sweets Franchising, Inc. ("Franchisor") and , a ("Franchisee") on the Effective Date. Background Statement: On the same day as they executed this MUDA, Franchisor and Franchisee have into Franchise Agreement for the franchise of entered a a business (the "Franchise Agreement;" capitalized terms used but not defined in this MUDA have the meanings given in the Franchise Agreement). Franchisor and Franchisee desire that Franchisee multiple businesses. 1. Multi-Unit Commitment. (a) Development Schedule; Fee.
Source: Item 23 — RECEIPTS (FDD pages 39–125)
What This Means (2024 FDD)
According to the 2024 Endless Summer Sweets Franchise Disclosure Document, if a franchisee enters into a Multi-Unit Development Agreement (MUDA), they will also execute a Franchise Agreement for the first location simultaneously with the MUDA. This means that on the same day the franchisee commits to developing multiple Endless Summer Sweets locations, they also finalize the agreement to operate their initial franchise.
For each subsequent Endless Summer Sweets franchise location under the MUDA, the franchisee must execute the then-current standard form of the Franchise Agreement. This must occur no later than three business days after the franchisee secures a location by either leasing or acquiring it.
It is important to note that the MUDA itself does not grant the franchisee the right to open or operate an Endless Summer Sweets business. The franchisee can only proceed with constructing, opening, and operating each location after a separate Franchise Agreement is executed for each specific Endless Summer Sweets business, as mandated by the MUDA.