Under the Eos Worldwide Franchise Agreement, what section pertains to Renewal?
Eos_Worldwide Franchise · 2025 FDDAnswer from 2025 FDD Document
| Agreement dated | WHEREAS, Releasor owns and operates an EOS Franchise (the "Franchise") under that Franchise , as it may have been amended (the "Franchise Agreement"); |
|---|---|
| WHEREAS, Releasor desires to (initial one), in accordance with the Franchise Agreement: | |
| Make a Transfer pursuant to Section 15 | |
| of the Franchise Agreement (as applicable, a | |
| "Transfer"); | |
| Renew the Franchised Agreement pursuant to Section 2.3 of the Franchise Agreement | |
| ("Renewal"); or | |
| Terminate the Franchise Agreement pursuant to Section 17.1 | |
| of the Franchise Agreement | |
| ("Termination"); and |
Source: Item 23 — RECEIPTS (FDD pages 74–246)
What This Means (2025 FDD)
According to the 2025 Eos Worldwide Franchise Disclosure Document, Section 2.3 of the Franchise Agreement pertains to the renewal of the franchise. Specifically, the document states that franchisees wishing to renew their agreement should refer to this section.
To renew the Initial Term, the Eos Worldwide franchisee must ensure the agreement is in full force and effect. If these conditions are met, the franchisee has the right to renew for two consecutive terms of three years each.
The Eos Worldwide Franchise Agreement also stipulates conditions that must be met to renew the franchise agreement, including compliance with refurbishment standards, adherence to the agreement terms, satisfaction of monetary obligations, execution of the then-current franchise agreement, meeting qualifications for new franchisees, signing a general release, and the continued offering of new Eos Worldwide franchises.