Where in the Hck Hot Chicken franchise agreement can I find the definition of 'ROFR Period'?
Hck_Hot_Chicken Franchise · 2025 FDDAnswer from 2025 FDD Document
If Franchisor elects to exercise the ROFR, Franchisor or its nominee, as applicable, shall send written notice of such election to Franchisee within 60 days of receipt of Franchisee's request (the "ROFR Period").
If Franchisor accepts such offer, the training and transfer/administrative fees due by Franchisee in accordance with this Agreement shall be waived by Franchisor, and the closing of the transaction shall occur within 60 days following the date of Franchisor's acceptance.
Any material change in the terms of an offer prior to closing (or the failure to close the transaction within 60 days following the written notice provided by Franchisee) shall cause it to be deemed a new offer, subject to the same right of first refusal by Franchisor, or its third party designee, as in the case of the initial offer.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 54)
What This Means (2025 FDD)
According to Hck Hot Chicken's 2025 Franchise Disclosure Document, the definition of 'ROFR Period' can be found in Section 21. Specifically, the 'ROFR Period' is defined within the context of the franchisor's Right of First Refusal (ROFR) if a franchisee wants to sell their franchise.
The 'ROFR Period' is the 60-day timeframe the franchisor has to notify the franchisee of their decision to exercise their Right of First Refusal. This 60-day period starts once the franchisor receives the franchisee's request to sell the franchise.
If Hck Hot Chicken decides to exercise its ROFR, the franchisee will not have to pay training and transfer/administrative fees typically associated with the transfer. The closing of the transaction must occur within 60 days following the franchisor's acceptance. Any material changes to the offer terms before closing, or failure to close within the 60-day timeframe, will be considered a new offer, subject to the same ROFR.