When does the Extreme Art Rider become effective for an Extreme Art Studio franchise?
Extreme_Art_Studio Franchise · 2024 FDDAnswer from 2024 FDD Document
| THIS EXTREME ART RIDER ("Extreme Art Rider") is entered into and made effective as of |
|---|
| the date set forth on the signature page hereof ("Rider Effective Date"), by and between EXTREME AR STUDIO FRANCHISING, LLC ("we", "us" or "our") and the franchisee named on the signature page |
| of this Extreme Art Rider (" Franchisee ", "you" or "your"). This Extreme Art Rider relates to that certain |
Source: Item 22 — CONTRACTS (FDD page 49)
What This Means (2024 FDD)
According to Extreme Art Studio's 2024 Franchise Disclosure Document, the Extreme Art Rider becomes effective on the date set forth on the signature page, referred to as the "Rider Effective Date." This date is determined when both Extreme Art Studio Franchising, LLC and the franchisee have executed and delivered the Extreme Art Rider.
For a prospective franchisee, this means that the specific terms and conditions outlined in the Extreme Art Rider, which supplements the main Franchise Agreement, will be legally binding from the Rider Effective Date. This is particularly relevant for franchisees planning to open multiple Extreme Art Studio locations, as the Rider typically addresses aspects specific to additional franchise units.
It is important for franchisees to carefully review the Extreme Art Rider and understand all its implications before signing, as it governs the operation of additional Extreme Art Studio businesses beyond the initial franchise. The Rider Effective Date marks the point from which the franchisee must adhere to these additional terms and conditions.