What specific document is attached as Attachment 6 regarding the Hyper Kidz franchise?
Hyper_Kidz Franchise · 2024 FDDAnswer from 2024 FDD Document
| ATTACHMENT 1: | FRANCHISEE ACKNOWLEDGMENT STATEMENT |
|---|---|
| ATTACHMENT 2: | TRADEMARKS |
| ATTACHMENT 3: | TERRITORY |
| ATTACHMENT 4: | GENERAL RELEASE |
| ATTACHMENT 5: | ACH AUTHORIZATION |
| ATTACHMENT 6: | COLLETERAL ASSIGNEMENT OF LEASE |
| ATTACHMENT 7: | STATEMENT OF OWNERSHIP INTERESTS IN FRANCHISEE |
| ATTACHMENT 8: | SPOUSAL GUARANTY |
| ATTACHMENT 9: | CONFIDENTIALITY AND NON-COMPETE AGREEMENT |
| ATTACHMENT 10: | INTERNET ADVERTISING, SOCIAL MEDIA AND TELEPHONE ACCOUNT AGREEMENT |
Source: Item 22 — CONTRACTS (FDD page 52)
What This Means (2024 FDD)
According to the 2024 Hyper Kidz Franchise Disclosure Document, Attachment 6 is the "Collateral Assignment of Lease". This document likely outlines the terms and conditions under which the franchisee's lease agreement for the business location can be used as collateral.
For a prospective Hyper Kidz franchisee, this means understanding the implications of assigning their lease as collateral. It is important to carefully review this document with legal counsel to fully grasp the obligations and potential risks involved. The franchisee should be aware of the conditions under which the lease assignment could be triggered and what recourse they have.
This type of attachment is not uncommon in franchising, as it provides the franchisor with additional security. It is essential for the franchisee to understand how this assignment affects their rights and responsibilities under the lease agreement and the franchise agreement.