What is the significance of the effective date of the Extreme Art Rider for Extreme Art Studio?
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 |
| Extreme Art Studio Business Franchise Agreement dated |
| ("Franchise Agreement"), and supplements the terms of the Franchise Agreement in relation to the |
| Extreme Art Studio Business addressed herein. To the extent this Extreme Art Rider conflicts with the |
| terms of the Franchise Agreement, the terms of this Extreme Art Rider shall control. |
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 specified on its signature page, referred to as the "Rider Effective Date." This Rider is an agreement between Extreme Art Studio Franchising, LLC and the franchisee, and it supplements the terms outlined in the existing Extreme Art Studio Business Franchise Agreement.
The Rider's purpose is to modify or add to the original Franchise Agreement, specifically concerning the Extreme Art Studio Business. It is important for prospective franchisees to understand that the terms of the Extreme Art Rider take precedence over any conflicting terms in the original Franchise Agreement.
For a prospective Extreme Art Studio franchisee, this means that the "Rider Effective Date" marks the point from which the new or modified terms outlined in the Rider come into force. Franchisees should carefully review both the Franchise Agreement and the Extreme Art Rider to fully understand their obligations and rights, paying close attention to any discrepancies between the two documents, as the Rider's terms will govern in case of conflict.