What is the term of the license agreement for the Marks used by Golden Krust Caribbean Restaurant?

According to the 2024 Franchise Disclosure Document, Golden Krust Patties, Inc. has granted Golden Krust Caribbean Restaurant and its affiliate, Golden Krust Caribbean Bakery, Inc., the exclusive right to use and permit its franchisees to use the Marks under a License Agreement dated January 1, 2004. The license agreement is worldwide and exclusive to Golden Krust Caribbean Restaurant and related entities.

The license agreement for the use of the Marks is for a perpetual term. However, Golden Krust Patties, Inc. has the right to terminate the License Agreement if Golden Krust Caribbean Restaurant commits a breach of the License Agreement. If the license agreement is terminated, Golden Krust Patties, Inc. will have the right to assume Golden Krust Caribbean Restaurant's obligations under the Franchise Agreement.

This means that as a Golden Krust Caribbean Restaurant franchisee, your right to use the brand's trademarks is tied to this perpetual license. While the term is indefinite, it's crucial to understand that a breach of the license agreement by Golden Krust Caribbean Restaurant could jeopardize your right to use the trademarks, potentially impacting your business. It is also important to note that Golden Krust Caribbean Restaurant grants franchisees a non-exclusive license to use the Marks during the term of the Franchise Agreement.