What is the purpose of defining terms in both the Lease and the Floyds 99 Lease Addendum?
Floyds_99 Franchise · 2025 FDDAnswer from 2025 FDD Document
aning hereof. This Release may be executed in any number of counterparts, each of which shall be deemed an original, but all of which taken together shall constitute one and the same instrument. If any provision of this Release shall be held by a court of competent jurisdiction to be invalid or unenforceable, such provision shall be deemed modified to eliminate the invalid or unenforceable element and, as so modified, such provision shall be deemed a part of this Release as though originally included. The remaining provisions of this Release shall not be affected by such modification. All provisions of this Release are binding and shall inure to the benefit of the Parties and their respective delegatees, successors and assigns.
[Signature Page Follows]
IN WITNESS WHEREOF, the Parties have caused this Release to be made effective on the day and year first above written.
FLOYD'S 99 FRANCHISING, LLC
Individually Individually AND (if a corporation, limited liability company or partnership) Company Name
EXHIBIT L (TO DISCLOSURE DOCUMENT)
LEASE ADDENDUM AND CONDITIONAL ASSIGNMENT OF LEASE
LEASE ADDENDUM
| This Addendum is attached to and made a part of that certain Lease (the "Lease") by and between ("Landlord") and | |
|---|---|
| ("Tenant") for certain premises located at (the "Premises") in | |
| the ("Shopping Center"). |
Source: Item 23 — RECEIPT (FDD pages 58–229)
What This Means (2025 FDD)
According to the 2025 Floyds 99 Franchise Disclosure Document, the purpose of defining terms in both the lease and the Floyds 99 Lease Addendum is to ensure clarity and precedence in the agreement. The addendum explicitly states that it is part of the lease agreement between the landlord and the tenant (the franchisee).
In case of any inconsistencies or contradictions between the lease and the addendum, the terms and provisions outlined in the addendum will take precedence. This ensures that the Floyds 99 Franchising, LLC's interests and requirements are prioritized and upheld.
Furthermore, any terms that are not specifically defined within the addendum will carry the same meaning as they do in the original lease agreement. This integrated approach provides a comprehensive understanding of the agreement, reducing potential ambiguities and ensuring that all parties involved are aligned with the intended interpretations.