In the Floyds 99 New York Rider, what section is deleted and replaced?
Floyds_99 Franchise · 2025 FDDAnswer from 2025 FDD Document
- Section 18.6 is deleted and the following is inserted in its place:
This Agreement is fully assignable by the Franchisor and shall inure to the benefit of any assignee or other legal successor in interest, and the Franchisor shall in such event be fully released from the same, provided no assignment shall be made except to an assignee who, in the Franchisor's good faith judgment, is willing and able to assume the Franchisor's obligations under this Agreement.
Source: Item 23 — RECEIPT (FDD pages 58–229)
What This Means (2025 FDD)
According to the 2025 Floyds 99 Franchise Disclosure Document, the New York Rider modifies the standard franchise agreement. Specifically, Section 18.6 of the original agreement is entirely removed and replaced with a new clause.
The new clause states that the Floyds 99 franchise agreement is fully assignable by the franchisor. This means Floyds 99 Franchising, LLC can transfer the agreement to another party. The agreement will then benefit any assignee or legal successor. Upon assignment, Floyds 99 Franchising, LLC is fully released from the agreement, provided the assignee is willing and able to fulfill the franchisor's obligations under the agreement, in Floyds 99's good faith judgment.
This change clarifies the franchisor's ability to assign the agreement and outlines the conditions under which such an assignment can occur. For a prospective franchisee, this means understanding that Floyds 99 could potentially transfer their rights and obligations to another company, which could impact the franchisee's relationship and operations.