What is the 'Deadline Date' in relation to the Healthsource Chiropractic franchise deposit?
Healthsource_Chiropractic Franchise · 2025 FDDAnswer from 2025 FDD Document
lletin: Practices of Business Consultants. We | | HSC is not engaged in rendering legal, accounting, | or other professional services or advice. | | your patients, taxes, employees, | If you require legal advice or other expert assistance, the services of a competent professional person should | | or disputes. | be sought. HSC is not a law firm. We do not practice law and cannot provide you with legal advice about | | Agreed and accepted by: | | | | | | Signature of Franchisee | Date | | | | | Printed Name | | | Acknowledged and agreed by: | |--------------------------------| | HealthSource Chiropractic, LLC | | | | By: | | Its: |
EXHIBIT K
Franchise Deposit Acknowledgment and Amendment
HEALTHSOURCE CHIROPRACTIC, LLC FRANCHISE DEPOSIT ACKNOWLEDGEMENT
TO HEALTHSOURCE CHIROPRACTIC, LLC:
| 1. Introduction. I understand that my application for the grant of a franchise to operate a HealthSource |
|---|
| Chiropractic, LLC |
| ("HealthSource") clinic in the area set forth on the attached map (the "Protected |
| Territory"), has been approved, subject to entering into a Franchise Agreement and paying the Initial |
| Franchise Fee. To continue the process of obtaining a franchise to operate a HealthSource Chiropractic |
| clinic in the Protected Territory, I am submitting this Franchise Deposit Acknowledgement (this |
| "Acknowledgement") and my deposit in the amount of $ (the "Deposit") to HealthSource. |
Source: Item 23 — Receipts (FDD pages 77–282)
What This Means (2025 FDD)
According to Healthsource Chiropractic's 2025 Franchise Disclosure Document, the 'Deadline Date' is a crucial point related to the franchise deposit. Upon receiving a signed Franchise Deposit Acknowledgement and the deposit, Healthsource Chiropractic agrees to reserve the Protected Territory for the prospective franchisee until the 'Deadline Date'. They will also provide access to training, information, and materials related to operating a Healthsource Chiropractic clinic during this period.
If a Franchise Agreement is not signed, or the remaining portion of the Initial Franchise Fee is not paid by the 'Deadline Date', the prospective franchisee loses the right to operate a Healthsource Chiropractic franchise in the Protected Territory. Additionally, they cannot use any Healthsource Chiropractic marks, logos, information, or materials. Healthsource Chiropractic then has the right to grant the Protected Territory to another person or entity.
In essence, the 'Deadline Date' acts as a cutoff. It sets a specific timeframe within which the prospective franchisee must finalize the agreement and pay the necessary fees to secure their rights to the franchise territory. Missing this deadline results in the forfeiture of the deposit's benefits and the potential loss of the desired territory to another franchisee.