Which exhibit contains the consent form that owners of the Floyds 99 developer must execute?
Floyds_99 Franchise · 2025 FDDAnswer from 2025 FDD Document
- 3.2 Ownership of Business. Developer shall at all times during the term of this Agreement own and control the FLOYD'S 99 developer business authorized hereunder. Upon request of Franchisor, Developer shall promptly provide satisfactory proof of such ownership and control to Franchisor. Developer represents that the Statement of Ownership, attached hereto as Exhibit III and by this reference
incorporated herein, is true, complete, accurate and not misleading, and, in accordance with the information contained in the Statement of Ownership, the controlling ownership of the FLOYD'S 99 developer business is held by Developer. Developer shall promptly provide Franchisor with a written notification if the information contained in the Statement of Ownership changes at any time during the term of this Agreement and shall comply with the applicable transfer provisions contained in Article 8 herein and in the Franchise Agreement. In addition, if Developer is an entity, all of the owners of Developer shall sign the Guaranty and Assumption of Developer's Obligations attached hereto as Exhibit II.
Source: Item 23 — RECEIPT (FDD pages 58–229)
What This Means (2025 FDD)
According to the 2025 Floyds 99 Franchise Disclosure Document, if the developer is an entity, all of the owners of the developer must sign the Guaranty and Assumption of Developer's Obligations. This document is attached as Exhibit II to the Development Agreement.