What information must Attachment C to the Extreme Art Studio Franchise Agreement contain?
Extreme_Art_Studio Franchise · 2024 FDDAnswer from 2024 FDD Document
Owner ceases to own at least a fifty-one percent (51%) ownership interest in you, you must deliver to us a revised Attachment C to accurately identify the Operating Owner for our review and approval, as otherwise required by this Franchise Agreement; and
1.3.6 The Operating Owner is authorized to deal with us on your behalf in respect of all matters whatsoever which may arise in respect of this Franchise Agreement, and any decision made by the Operating Owner will be final and binding upon you. We will be entitled to rely solely upon the decision of the Operating Owner in any such dealings without the necessity of any discussions with any other party named in this Franchise Agreement, and we will not be held liable for any actions taken by you or otherwise, based upon any decision or actions of the Operating Owner.
Source: Item 22 — CONTRACTS (FDD page 49)
What This Means (2024 FDD)
According to the 2024 Extreme Art Studio Franchise Disclosure Document, Attachment C to the Franchise Agreement must accurately identify the Operating Owner. This attachment is required if the owner of the franchise ceases to own at least 51% ownership interest in the franchise.
The Operating Owner is authorized to deal with Extreme Art Studio on the franchisee's behalf regarding all matters related to the Franchise Agreement. Extreme Art Studio is entitled to rely solely on the decisions of the Operating Owner without needing to consult with any other party named in the Franchise Agreement.
Extreme Art Studio will not be held liable for any actions taken by the franchisee based on the decisions or actions of the Operating Owner. This arrangement ensures that Extreme Art Studio has a single point of contact and decision-maker for the franchise, simplifying communication and operational matters.