When is the delivery of an Offer Notice considered received by Hawaiian Bros Island Grill?
Hawaiian_Bros_Island_Grill Franchise · 2025 FDDAnswer from 2025 FDD Document
At Company's option, delivery of such notice may not be deemed received until Principal or Developer has delivered to Company an Asset Purchase Agreement or other similar agreement, signed by Developer or Principals, as applicable, and the proposed transferee, documenting in full the terms of the proposed sale.
Source: Item 23 — RECEIPTS (FDD pages 77–262)
What This Means (2025 FDD)
According to the 2025 Hawaiian Bros Island Grill FDD, the company has the option to delay deeming an Offer Notice as received. Specifically, Hawaiian Bros Island Grill may choose to not consider the notice officially received until the Principal or Developer provides an Asset Purchase Agreement or a similar agreement. This document must be signed by both the Developer or Principals and the proposed transferee, and it must fully detail the terms of the proposed sale.
This condition gives Hawaiian Bros Island Grill significant control over the transfer process. By requiring a signed Asset Purchase Agreement, the company ensures it has a complete understanding of the proposed transaction before the clock starts ticking on its decision whether to exercise its option to purchase the interests itself.
For a potential Hawaiian Bros Island Grill franchisee, this means that simply sending an Offer Notice might not be enough to trigger the company's response. Franchisees need to be prepared to promptly provide the signed Asset Purchase Agreement to ensure the company officially acknowledges receipt of the notice and begins its review process. This could potentially delay the timeline for a sale if the franchisee does not provide the additional documentation.