In the Fat Shack Acknowledgment of Termination and Release Agreement, what year is used as a placeholder for the date?
Fat_Shack Franchise · 2025 FDDAnswer from 2025 FDD Document
| This Acknowledgment of Termination and Release Agreement ("Agreement") is entered into this day of, 202, between FAT SHACK INC., a Delaware corporation ("Franchisor") and ("Franchisee"). The Franchisee and the Franchisor will collectively be |
|---|
| referred to herein as the "Parties." |
| RECITALS |
| WHEREAS, Franchisor and Franchisee entered into that certain franchise agreement ("Franchise |
| Agreement") dated, 20, in which Franchisor granted Franchisee the right to |
| operate a FAT SHACK Restaurant in the authorized territory ("Protected Territory") described in |
| Exhibit 1 of the Franchise Agreement; and |
| WHEREAS, on 202, Franchisee's rights under the terms of the Franchise |
| Agreement were terminated ("Termination") as a result of |
| WHEREAS, the Parties desire to enter into this Agreement for the purpose of acknowledging the |
| Termination; acknowledging Franchisor's retention of all rights and remedies under the Franchise |
| Agreement including, but not limited to, Franchisor's right to retain all of any type set forth in the |
| Franchise Agreement or any related agreements and right to audit Franchisee's books and records; and |
| fully and finally resolving all legal and equitable claims, known or unknown, of Franchisee existing |
| against Franchisor that were or could have been asserted by Franchisee in any action. |
| NOW, THEREFORE, in consideration of the mutual covenants, promises and agreements herein |
| contained, the parties hereto hereby covenant, promise and agree as follows: |
| AGREEMENT |
| 1. |
| Acknowledgment of Termination. |
| Franchisee acknowledges and agrees that all of its rights |
| under the Franchise Agreement and Development Agreement (if any) ("Franchise Documents"), were |
| fully and finally terminated on 202 |
Source: Item 23 — Receipts (FDD pages 53–223)
What This Means (2025 FDD)
According to Fat Shack's 2025 Franchise Disclosure Document, the year "202" is used as a placeholder in the Acknowledgment of Termination and Release Agreement. This placeholder appears in multiple instances within the agreement, specifically where the full date is intended to be filled in upon execution.
This agreement is used when a Fat Shack franchise is terminated, and it outlines the terms of the termination, including the release of claims between the franchisee and franchisor. The agreement requires specific dates to be inserted to accurately reflect when the agreement is entered into and when the franchisee's rights were terminated.
Prospective franchisees should note the importance of carefully reviewing and understanding all terms within the Acknowledgment of Termination and Release Agreement, as it governs the legal implications of ending a franchise relationship with Fat Shack. Ensuring all dates and details are accurately filled in is crucial to avoid potential disputes.