For a Healthsource Chiropractic franchise, what is the significance of the date fields in the Amendment regarding the Developer?
Healthsource_Chiropractic Franchise · 2025 FDDAnswer from 2025 FDD Document
IN WITNESS WHEREOF, the parties have executed this Amendment on the date first shown above.
FRANCHISOR HEALTHSOURCE CHIROPRACTIC, LLC DEVELOPER 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 in the Amendment to the Development Agreement are crucial for establishing the agreement's timeline and legal enforceability. The Amendment is intended to be part of the Development Agreement, and it references the date of the original Development Agreement. This ensures that all parties are clear on which prior agreement the amendment applies to.
The date on the Amendment itself signifies when the changes or additions to the original Development Agreement become effective. This date is essential for determining the period during which the amended terms are in force. The document states, "IN WITNESS WHEREOF, the parties have executed this Amendment on the date first shown above," emphasizing the legal importance of this date as the point when all parties agree to the updated terms.
Furthermore, the inclusion of signature dates for both Healthsource Chiropractic and the Developer provides a clear record of when each party formally agreed to the Amendment. This is a standard legal practice that helps to avoid disputes about whether and when the parties entered into the amended agreement. Prospective Healthsource Chiropractic developers should pay close attention to these dates to fully understand their obligations and rights under both the original Development Agreement and its Amendment.