As of this FDD, what is the effective date for Hck Hot Chicken's development obligations in Michigan?
Hck_Hot_Chicken Franchise · 2025 FDDAnswer from 2025 FDD Document
This AREA DEVELOPMENT AGREEMENT (the "Development Agreement") is made and entered into effective as of the date listed on Exhibit A to this Development Agreement (the "Effective Date") by and between Hot Chikn Kitchn LLC a Florida limited liability company (the "Franchisor") and the area developer listed on Exhibit A to this Development Agreement ("Area Developer"). If more than one person or entity is listed as Area Developer, each such person or entity shall be jointly and severally liable for all rights, duties, restrictions, and obligations under this Development Agreement.
Within each Development Period specified in Exhibit B, Area Developer shall construct, equip, open, and thereafter continue to operate within the Development Area, not less than the cumulative number of Restaurants required by the Development Obligation for that Development Period.
Source: Item 23 — RECEIPTS (FDD pages 55–245)
What This Means (2025 FDD)
According to the 2025 Hck Hot Chicken FDD, the effective date for the Area Development Agreement is determined by Exhibit A of the agreement. The Area Development Agreement is made and entered into effective as of the date listed on Exhibit A. This date is referred to as the "Effective Date" within the agreement.
Exhibit B specifies the Development Periods during which the Area Developer must construct, equip, open, and operate the required number of Hck Hot Chicken restaurants within the Development Area. The Area Developer's obligations to develop restaurants are tied to these Development Periods.
However, the excerpt does not provide the specific effective date for development obligations in Michigan. To determine the exact effective date, a prospective franchisee should refer to Exhibit A of the Area Development Agreement specific to their territory in Michigan. They should also clarify with Hck Hot Chicken the specific development timeline and obligations outlined in Exhibit B for their area.