For a Healthsource Chiropractic franchise, what is the significance of the date fields in the Amendment?
Healthsource_Chiropractic Franchise · 2025 FDDAnswer from 2025 FDD Document
THIS AMENDMENT TO DEVELOPMENT AGREEMENT ("Amendment") dated , is intended to be a part of, and by this reference is incorporated into that certain Development Agreement (the "Development Agreement") dated, by and between HealthSource Chriopractic, LLC("Franchisor"), a Delaware limited liability company, with its principal office in Avon, Ohio, and ("you" or "Franchisee"). Defined terms contained in the Development Agreement shall have the identical meanings in this Amendment. Reserved IN WITNESS WHEREOF, the parties have executed this Amendment on the date first shown above. DEVELOPER HEALTHSOURCE CHIROPRACTIC, LLC
Source: Item 23 — Receipts (FDD pages 77–282)
What This Means (2025 FDD)
According to the 2025 Healthsource Chiropractic Franchise Disclosure Document, the date fields within the Amendment to the Development Agreement and Franchise Agreement are crucial for establishing the legal timeframe and context of the agreement. The Amendment is explicitly tied to a specific Development Agreement or Franchise Agreement through the "dated" fields, ensuring that all parties understand which original agreement is being modified. This is important for clarity and to avoid disputes about which terms are currently in effect.
The date on which the Amendment is executed, as indicated by the phrase "executed this Amendment on the date first shown above," marks the point from which the changes and additions outlined in the Amendment become legally binding. This date is essential for determining the start of any new obligations, timelines, or conditions introduced by the Amendment.
For a prospective Healthsource Chiropractic franchisee, it is important to carefully review these dates to confirm that the Amendment aligns with their understanding of the agreement's history and to ensure that all dates are accurately recorded to maintain the integrity and enforceability of the contractual relationship with Healthsource Chiropractic.